If a firm is practicing third-degree price discrimination and is charging a price of $8 per unit to consumers in Group A and a price of $10 to consumers in Group B, which of the following is true?
A) Group B consumers have a greater price elasticity than Group A consumers.
B) Group A consumers have a lower price elasticity than Group B consumers.
C) Group A consumers have a greater price elasticity than Group B consumers.
D) Group A consumers are less responsive to price changes than Group B consumers.
C) Group A consumers have a greater price elasticity than Group B consumers.
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To make a threat more credible, managers can do all of the following except which one?
A) make competitors aware of the firm's plans B) keep competitors in the dark about the firm's plans C) take action to lower the firm's costs D) take action to increase the firm's capacity
The policy shown in Figure 9.7 is a
A) price floor of $50. B) price support of $50. C) price ceiling of $30. D) quota of 2000. E) quota of 4000.
Proponents of comparable worth justifies it on the ground that:
a. interfering with the functioning of the labor market will lead to shortages of labor. b. interfering with the functioning of the labor market will lead to excess supplies of labor. c. as a result of personal prejudices the market is unable to assess marginal products. d. market correctly processes the innumerable information which is available. e. interaction of demand and supply correctly determines the wage rate.
The labor supply curve shifts when
a. employers need to hire more people. b. employers develop new technology. c. workers change the number of hours that they want to work at any given wage. d. workers become more productive.