Answer:
The correct answer is (C)
Explanation:
Economics is all about allocating limited resources to attain maximum utility. In that regard, efficiency can be achieved by giving contracts to companies with higher productivity. These companies are all about attaining maximum productivity by investing limited resource. More productivity will increase the utility, and that will improve economic efficiency. So it is critical to give projects and contracts to certain companies which can increase the overall productivity.
Answer:
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Explanation:
Answer:
C. The price of eight AA batteries increases from $3.50 to S3.95 a set.
Explanation:
A product's price change is the sole reason for movement along the supply curve. The supply curve demonstrates the relationship between the price and the supply of a product. As per the law of supply, suppliers will supply more at higher prices.
A supply curve shows the volume that supplies will be ready to supply at different prices. An increase or decrease in price will cause the quantity of supply to change, as indicated by movement along the supply curve.
Answer:
The correct answer is letter "C": charges a higher price but produces the same monopoly level of output as when a single price is charged.
Explanation:
Price discrimination refers to setting prices differently according to certain consumers' features such as age, location or income. There should always be a reasonable excuse for the prices to be established at different levels for different people otherwise it would represent discrimination.
Free-price discrimination<em> takes place when a monopolist offers a good or service setting the price at the maximum level different consumers can afford. The production level of the monopolist keeps being the same which allows the company to book higher revenues.</em>