AGEC 4203 : Exam I AGEC 4203 Fall 2012
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1. The outcome of first-degree price discrimination is:
A. Pareto efficient with equity.
B. Pareto inefficient with inequity.
C. Pareto inefficient but is equitable.
D. Pareto efficient with inequity.
2. The cost of using a good for some specific period of time is called the ________ of the good.
A. rental price
B. auction price
C. market price
D. issue price
3. An example of an oligopoly is the __________.
A. corn market
B. cell phone market
C. local electric company
D. patented drug market.