Use the Following to Answer Questions

question 205

Multiple Choice

Use the following to answer questions:
-(Table: Coffee and Salmon Production Possibilities II) Use Table: Coffee and Salmon Production Possibilities II.This table shows the maximum amounts of coffee and salmon,both measured in kilograms,that Brazil and Alaska can produce if they just produce one good.Alaska has an absolute advantage in producing:

• A) coffee only.
• B) salmon only.
• C) both coffee and salmon.
• D) neither coffee nor salmon.

---

Definitions:

First-Degree Price Discrimination

A pricing strategy where a seller charges each buyer their maximum willingness to pay, capturing all consumer surplus.

Peak-Load Pricing

A pricing strategy used to regulate demand by charging higher prices during peak times and lower prices during off-peak times.

Second-Degree Price Discrimination

A pricing strategy where prices vary based on the quantity of goods or services purchased, but not on the characteristics of the buyer.

Early Bird

A term typically used to describe someone who completes a task or arrives somewhere early, often to take advantage of benefits or discounts.