1. In the short run, new firms may enter a competitive market structure.
2. Which of the following is considered third-degree price discrimination?
A) separate prices charged for business passengers and regular travelers on an airplane
B) charging block rates on utilities
C) charging different prices to consumers at a flea market
D) charging different prices at a used car dealership
These multiple choice questions belong to Economics. The 1st question discusses about new firms entering competitive market structure and the 2nd question discusses about third degree price discrimination.
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