Fill in the blanks: 1) MR > 0 implies demand is price ___________. 2) If Price elasticity is > -1 then Total Revenue will _________ as the price increases. 3) First degree price discrimination captures _______________ of consumer surplus. 4) Cost plus pricing rule implies price = __________________________________ 5) In market segmentation (2 segments) the optimal condition is ___________________ 6) Segments with relatively inelastic demand are charged ______________ prices. 7) Consumer surplus is equal to _____________________________ 8) If the price elasticity is < -1 then total revenue will ______________ as the price increases. 9) When total utility is maximum, marginal utility becomes ___________________ 10) When Average Cost = K; then Marginal Cost =________
Fill in the blanks:
-
1) MR > 0 implies
demand isprice ___________. -
2) If Price elasticity is > -1 then Total Revenue will _________ as the price increases.
-
3) First degree
price discrimination captures _______________ of consumer surplus. -
4) Cost plus pricing rule implies price = __________________________________
-
5) In market segmentation (2 segments) the optimal condition is ___________________
-
6) Segments with relatively
inelastic demand are charged ______________ prices. -
7) Consumer surplus is equal to _____________________________
-
8) If the price elasticity is < -1 then total revenue will ______________ as the price
increases.
-
9) When total utility is maximum,
marginal utility becomes ___________________
10) When Average Cost = K; then Marginal Cost =________
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