If a firm is practicing third-degree price discrimination and is charging a price of $5 per unit to consumers in Group A and a price of $9 to consumers in Group B, which of the following is true?
A) Group A consumers are less responsive to price changes than Group B consumers.
B) Group A consumers have a lower price elasticity than Group B consumers.
C) Group B consumers have a greater price elasticity than Group A consumers.
D) Group A consumers have a greater price elasticity than Group B consumers.
D) Group A consumers have a greater price elasticity than Group B consumers.
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Most Americans
A. have accurate perceptions of the level of corporate profits. B. underestimate corporate profits. C. overestimate corporate profits. D. believe that corporations earn zero profit.
What are the main functions of markets?
What will be an ideal response?
Studies that compare the wages of more risky and less risky occupations estimate the value of a human life to be about
a. $1 million. b. $5 million. c. $10 million. d. $20 million.
A citizen in a developing country with a currency policy of convertibility on the current account could engage in all of the following transactions except:
A. sell foreign currency resulting from the exports of manufactured t-shirts. B. sell foreign currency resulting from the sale of a U.S. treasury bond. C. purchase foreign currency in order to import a BMW. D. purchase foreign currency in order to purchase a U.S. treasury bond.