1.The disagreement value (outside option) in axiomatic (non-strategic) bargaining is closely related to: a. Total relative...
1.The disagreement value (outside option) in axiomatic (non-strategic) bargaining is closely related to:
| a. |
Total relative gain from reaching agreement |
|
| b. |
Opportunity costs |
|
| c. |
Total payoffs from reaching agreement |
|
| d. |
Fixed Costs |
2.
With price discrimination, higher prices are charged when:
| a. |
The price elasticity of demand is high. |
|
| b. |
None of these statements is correct |
|
| c. |
The cross-price elasticity of demand is low. |
|
| d. |
The cross-price elasticity of demand is high. |
|
| e. |
The price elasticity of demand is low. |
|
| f. |
Unitary income elasticity |
3.
Which of the following statements is true?
| a. |
The higher the average cost, the lower the profit-maximizing price |
|
| b. |
The more elastic the demand, the higher is the desired markup |
|
| c. |
The higher the marginal cost, the lower the profit-maximizing price |
|
| d. |
The more elastic the demand, the lower is the desired markup |
4.
Price discrimination exists when:
| a. |
Markups are constant among customers. |
|
| b. |
Prices vary among customers. |
|
| c. |
Markups vary among customers. |
|
| d. |
Costs vary among customers. |
Homework Answers
Ans1) the correct option is b) opportunity costs
Ans2) the correct option is e) The price elasticity of demand is low.
Ans3) the correct option is d) The more elastic the demand, the lower is the desired markup
Ans4) the correct option is b) prices vary among customers
Add Answer to:
1.The disagreement value (outside option) in axiomatic
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Total relative...
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A. Sarah’s price elasticity of demand is one because she is
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B. Sarah’s income elasticity of demand is equal to zero because her
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