With Peak-Load Pricing,a Firm Charges a Different Price in Each

question 53

Multiple Choice

With peak-load pricing,a firm charges a different price in each period,because:

• A)its supply is perfectly inelastic.
• B)its marginal cost of production varies in each period.
• C)the number of consumers change every period.
• D)the demand for the good is perfectly price elastic.

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Definitions:

Concentration

Concentration refers to the measure of the amount of a given substance within a specified volume or unit of another substance.

Tragedy of the Commons

A situation in which individual users of a shared resource act independently according to their own self-interest and deplete or spoil that resource through their collective action.

Salinization

The process by which water-soluble salts accumulate in the soil, often as a result of improper irrigation practices, leading to soil degradation and reduced agricultural productivity.

Pollutes

Introduces contaminants into a natural environment, causing harm or discomfort to organisms and ecosystems.