Under Second Degree Price Discrimination, the Average Price Per Unit

question 36

True/False

Under second degree price discrimination, the average price per unit paid by high demand consumers is not equal to marginal willingness to pay for one additional unit.

---

Definitions:

U.S. Treasury Bills

Short-term government securities issued by the United States Department of the Treasury with maturity periods typically up to one year.

Utility Function

A mathematical representation that shows the relationship between a consumer's level of satisfaction and quantities of consumed goods or services.

Pope And Young Score

A scoring system used to measure the size and symmetry of big game animals' antlers and horns, often for record-keeping or hunting achievement purposes.

Hunting Stand

A structure used by hunters to elevate themselves above the ground to improve visibility and shooting range on their prey.