Blackboard Answers to Nova Homework

Blackboard Answers to Nova Homework - • Question 1 1 out...

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Unformatted text preview: • Question 1 1 out of 1 points A firm selling in two markets is practicing price discrimination Answer Selected Answer: b. when it is charging different consumers different prices and the price difference is not based upon cost differences. • Question 2 1 out of 1 points To maximize profit a price discriminating firm should Answer Selected Answer: d. both a and c • Question 3 1 out of 1 points Which of the following conditions must be true so that a firm can price discriminate? Answer Selected Answer: c. The good cannot be easily resold. • Question 4 0 out of 1 points Charging a higher price for a motel room to customers with dogs or cats than to customers with no pets is most likely an example of Answer 225 Chapter 12/Pricing Selected Answer: c. third-degree price discrimination. • Question 5 1 out of 1 points When firms price discriminate, they turn ___________ into ______________. Answer Selected Answer: b. consumer surplus, profit • Question 6 1 out of 1 points At many municipal golf courses, local residents pay a lower fee to play than other golfers do. One necessary condition for the golf course to be able to successfully price discriminate according to residency is that Answer Selected Answer: a. they can check the identification cards of golfers. • Question 7 1 out of 1 points Coupons represent a form of price discrimination because they offer a low-cost way for firms to Answer Selected Answer: a. identify customers with apparently more elastic demand and offer them a lower price. • Question 8 1 out of 1 points 226 Chapter 12/Pricing If a firm is selling a product in two markets, A and B, and the marginal revenue in A is $25 and the marginal revenue in B is $20, the firm should Answer Selected Answer: d. sell more in A and less in B • Question 9 1 out of 1 points The ability of a monopoly to charge a price that exceeds marginal cost depends on Answer Selected Answer: the price elasticity of demand. • Question 10 1 out of 1 points The next 2 questions refer to the following: A news magazine offers students a discount on the regular subscription rate. The total number of subscriptions is optimal, and, at the current prices, the marginal revenue from the last subscription sold to a student is $6, while the marginal revenue from the last subscription sold to a regular customer is $10....
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Blackboard Answers to Nova Homework - • Question 1 1 out...

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