Ch11 - CHAPTER 11 Pricing with Market Power MULTIPLE CHOICE...

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CHAPTER 11 Pricing with Market Power MULTIPLE CHOICE Section 11.1 easy 1. Which of the following strategies are used by business firms to capture consumer surplus? a. price discrimination. b. bundling. c. two-part tariffs. d. all of the above. easy 2. Rather than charging a single price to all customers, a firm charges a higher price to men and a lower price to women. By engaging in this practice, the firm: Section 11.2 easy 3. An electric power company uses block pricing for electricity sales. Block pricing is an example of easy 4. When a firm charges each customer the maximum price that the customer is willing to pay, the firm easy 5. The maximum price that a consumer is willing to pay for each unit bought is the ______________ price. a. market b. reservation c. consumer surplus d. auction e. choke easy 6. Second-degree price discrimination is the practice of charging 143
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CHAPTER 11 TEST BANK PRICING WITH MARKET POWER SIXTH EDITION easy 7. A firm is charging a different price for each unit purchased by a consumer. This is called easy 8. A tennis pro charges $15 per hour for tennis lessons for children and $30 per hour for tennis lessons for adults. The tennis pro is practicing easy
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