Multiple Choice
The following table shows the utility (measured in dollars) which Lisa derives from water (in 50 litre drums) and diamonds (uncut 1 carat stones) .
-What is the term for the selling of an identical product at a different price to different customers for reasons other than cost?
A) Price discrimination.
B) Product substitution.
C) Marginal utility.
D) Consumer surplus.
Correct Answer:
Verified
Correct Answer:
Verified
Q1: In Longolia,beer drinking is associated with blood
Q2: Differentiate between marginal utility and total utility.
Q3: Suppose that Irina is prepared to pay
Q5: The following graph shows the marginal utility
Q6: Maria is considering her lunch purchase.Unfortunately,the deli
Q7: <img src="https://d2lvgg3v3hfg70.cloudfront.net/TB5692/.jpg" alt=" -Refer to the
Q8: "Total utility declines when marginal utility declines."
Q9: Suppose that Reza buys two products and
Q10: Consumer surplus is the additional amount that
Q11: Suppose that Irina is prepared to