Problems-
1. In the short run, new firms may enter a competitive market structure.
A) True
B) False
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
Additional Information-
These multiple choice problems belong to Economics. The first problem discusses about new firms entering competitive market structure and the second problem discusses about third degree price discrimination.