Question : Figure 16-3 Chantal owns a hairdressing salon which caters to two : 1387945

Figure 16-3

Chantal owns a hairdressing salon which caters to two main groups of customers: residents of “The Chateau,” a retirement community, and other residents in the neighborhood. Figure 16-3 shows the demand curves for the residents of the retirement community, labeled Market A, and other residents in the neighborhood, labeled Market B. The demand curves are not identical.

79) Refer to Figure 16-3. What prices are charged in the two markets?

A) price in market A = price in market B = $15

B) price in market A = $10; price in market B = $15

C) price in market A = price in market B = $5

D) price in market A = price in market B = $10

80) Refer to Figure 16-3. Which group of customers is likely to have a more elastic demand curve (more sensitive to price)?

A) the other residents of the neighborhood—market B

B) There is no difference in the elasticity of demand between the two groups.

C) the customers from “The Chateau”—market A

D) There is insufficient information to answer this question.

81) Refer to Figure 16-3. Suppose Chantal practices price discrimination. Which of the following statements is true?

A) Chantal’s profits will be higher if she has uniform pricing instead of different prices for different groups of customers.

B) By charging a higher price in market B, Chantal has transferred some of the consumer surplus from customers in market B to customers in market A.

C) By charging different prices in markets A and B, Chantal can transfer some producer surplus into economic profit.

D) By charging a higher price in market B, Chantal can convert some consumer surplus into economic profit.

82) Refer to Figure 16-3. Suppose Chantal charges all her customers a uniform price of $10 for a haircut. Which of the following statements is true?

A) Chantal is selling more than the profit-maximizing quantity of haircuts in market B.

B) Chantal is selling less than the profit-maximizing quantity of haircuts in market B.

C) Chantal is maximizing revenue in market B.

D) Chantal will earn a greater profit through uniform pricing than if she practices price discriminates.

83) Assume that a monopolist practices perfect price discrimination. The firm’s marginal revenue curve will

A) be perfectly elastic.

B) be equal to its demand curve.

C) will be perfectly inelastic.

D) will lie below its demand curve.

84) Assume that a monopolist practices perfect price discrimination. The firm will produce an output rate

A) that is less than the efficient level of output.

B) that is greater than the efficient level of output.

C) that is equal to the efficient level of output.

D) that converts consumers surplus into a deadweight loss.

85) If a monopolist practices perfect price discrimination,

A) the firm will break even in the long run.

B) consumers surplus will be equal to the deadweight loss.

C) producer surplus will equal consumer surplus.

D) consumer surplus will be zero.

86) Which of the following statements about perfect price discrimination is false?

A) There is no consumer surplus if a firm engages in perfect price discrimination.

B) Perfect price discrimination occurs when the seller charges the highest price each consumer would be willing to pay for the product.

C) A condition for perfect price discrimination is that it must be costlier to service some customers than others.

D) For the price-discriminating firm, its marginal revenue curve coincides with its demand curve.

87) Suppose that a price-discriminating producer divides its market into two segments. If the firm sells its product at a price of $34 in the market segment with relatively less-elastic customer demand, the price in the market segment with more-elastic customer demand will be

A) greater than $34.

B) less than $34.

C) less than marginal revenue in that market segment.

D) equal to marginal revenue in that market segment.

88) Publishers practice price discrimination when they sell books at high prices to

A) early adopters.

B) local bookstores.

C) large chain bookstores.

D) online book sellers.

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July 1, 2023

61. Which of the following statements regarding intermolecular forces is incorrect?

A)Hydrogen bonding is the strongest of the intermolecular forces.

B)London dispersion forces increase with increasing molecular size.

C)Dipole-dipole forces are present in all atoms and molecules.

D)In order for a pure substance to participate in hydrogen bonding, it must have hydrogen bonded to F, O, or N.

E)Intermolecular forces are much weaker than bonding forces.

62. Which of the following statements regarding intermolecular forces is incorrect?

A)Hydrogen bonding is the strongest of the intermolecular forces for substances of similar molar mass.

B)London dispersion forces are present in all atoms and molecules.

C)Dipole-dipole forces increase with increasing molecular size.

D)Bonding forces are much stronger than intermolecular forces.

E)Hydrogen bonding is the reason for the abnormally high boiling point of water.

63. Which choice correctly lists the intermolecular forces present in CH3NH2?

A)London forces only

B)dipole-dipole forces only

C)London forces, dipole-dipole forces, and hydrogen bonding

D)dipole-dipole forces and hydrogen bonding

E)hydrogen bonding only

64. Which choice correctly lists the intermolecular forces present in CH4?

A)London forces only

B)London forces and dipole-dipole forces

C)London forces, dipole-dipole forces, and hydrogen bonding

D)dipole-dipole forces and hydrogen bonding

E)London forces and hydrogen bonding

65. Which choice correctly lists the intermolecular forces present in CH3Br?

A)London forces only

B)London forces and dipole-dipole forces

C)London forces, dipole-dipole forces, and hydrogen bonding

D)dipole-dipole forces and hydrogen bonding

E)London forces and hydrogen bonding

66. Arrange the following substances in order of increasing boiling point: CH3OH, CH4, CH3CH2OH, HOCH2CH2OH

A)CH3OH < CH4 < CH3CH2OH < HOCH2CH2OH B)CH4 < CH3OH < CH3CH2OH < HOCH2CH2OH C)CH4 < CH3OH < HOCH2CH2OH < CH3CH2OH D)CH3OH < CH4 < HOCH2CH2OH < CH3CH2OH E)HOCH2CH2OH < CH3CH2OH < CH3OH < CH4 67. Arrange the following substances in order of increasing boiling point: N2, H2, NH3, PH3 A)H2 < N2 < PH3 < NH3D)N2 < PH3 < NH3 < H2 B)N2 < H2 < PH3 < NH3E)NH3 < PH3 < N2 < H2 C)H2 < N2 < NH3 < PH3 68. Select the pair of substances which has the one with the higher equilibrium vapor pressure at a given temperature listed first. A)H2O, H2SD)NH3, PH3 B)CH3CH2OH, CH3OHE)Br2, Cl2 C)CH3COCH3, CH3CH2CH2OH 69. Select the pair of substances which has the one with the higher equilibrium vapor pressure at a given temperature listed first. A)H2O, HClD)AsH3, PH3 B)CH3OH, CH4E)Cl2, Br2 C)CH3CH2CH2OH, CH3COCH3 70. Which of the following statements regarding the liquid state is incorrect? A)Liquids are about 1000 times denser than gases. B)Liquids are normally about 90-95% as dense as their corresponding solid. C)The viscosity of a liquid is a measure of its resistance to flow. D)Molecules with high intermolecular forces will have high surface tension. E)Surface tension increases as temperature increases.