Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Choose the Correct Option: 1. The practice of charging a different price for the same good or service. a. Pure competition b. Price discrimination c.
Choose the Correct Option: 1. The practice of charging a different price for the same good or service. a. Pure competition b. Price discrimination c. Pricing strategy d. Non-profit strategy is assumed to be 2. A consumer aims at maximizing his benefits from consumption, given his income and prices of goods a. Ordinal b. Cardinal c. Consistent d. Rational 3. Which word denotes that a consumer considers one alternative exactly as good as the other? a. Preference b. Indifference c. Income effect d. Transitivity 4. Economists have become more interested in partly because of the growth of e-comme as a means of buying and selling goods and services. a. Monopoly b. Oligopoly c. Pure competition d. Duopoly 5. While total utility continues to rise with extra consumption of a good, its marginal utility keeps - a. Constant b. Increasing c. Fluctuating d. Falling
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started