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In the Real World

Question 2

Multiple Choice
In the real world, A)all sellers charge one price equal to the marginal cost of production. B)profitable sellers will set one price based on the average elasticity of demand of buyers. C)many firms charge different prices based on consumers' willingness to pay. D)all sellers charge one price set by the government.

In the real world,


A) all sellers charge one price equal to the marginal cost of production.
B) profitable sellers will set one price based on the average elasticity of demand of buyers.
C) many firms charge different prices based on consumers' willingness to pay.
D) all sellers charge one price set by the government.

Correct Answer:

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