12/1 notes Flashcards
1
Q
how is price set for perfect compeitition
A
at market price
2
Q
how is price set for imperfect competition, oligopoly, and monopoly
A
choose the price
3
Q
if demand leads to one price it is ________
A
arbitrage
4
Q
arbitrage
A
simultaneous purchase and sale of an asset to profit from a difference in price
5
Q
if there is more than one price from demand there is ______ __________
A
price discrimination
6
Q
price discrimination
A
Price discrimination is a selling strategy that charges customers different prices for the same product or service based on what the seller thinks they can get the customer to agree to.
