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Daniella buys a yogurt parfait every week. She is willing to pay $9 for the parfait, but the school store typically sells them for $4. Today, the store is running a sale and the price of yogurt parfaits is only $3. What is Daniella’s consumer surplus when she buys the parfait on sale?

The demand and supply of detergent are given by QD = 7,000-1,000P and QS = 1,000P-1,000, where P is price per gallon and Q is in gallons. What happens at a price ceiling of $2 per gallon?

Versioning is a form of ____ price discrimination because ____.

Suppose that the inverse demand in a market is P = 100-2Q. A firm’s marginal cost is constant and equal to $70. If the marginal cost increased from $70 to $80 and the firm is a monopoly, then it would raise its price _____. If the marginal cost increased from $70 to $80 and the firm operates in a perfectly competitive market, then the market price would _____.

A firm is producing 8 units of output at an average total cost of $40. When the firm produces 9 units of output, average total cost rises to $54. What is the marginal cost of the nineth unit of output?

Antitrust laws

At Flower Bakery, Camden notices that the equilibrium price of poppyseed muffins has decreased and the equilibrium quantity has decreased. Which of the following could be responsible for this pattern?

In an indirect price discrimination mechanism, a firm _______.

Suppose a firm’s total cost is given by TC = 210+10Q+3Q2, and its marginal cost is given by MC = 10+6Q. It operates in a perfectly competitive market where the price per unit of output is $100. What value of Q maximizes the firm’s profits?

Suppose a perfectly competitive industry has 200 firms, and the short-run supply curve for each firm is given by Q = 4P. What is the short-run industry supply curve?