University financial aid can be viewed as a type of price discrimination
a. True
b. False
Indicate whether the statement is true or false
True
You might also like to view...
In the figure above, the poorest 20 percent of households receive ________ of total income
A) 20 percent B) 10 percent C) 5 percent D) 15 percent
The demand function for tickets to Ireland is expressed as
Qd = 1600 - 0.005P + 2 PEngland + 3rain + 2Y, where P is the price for tickets to Ireland, PEngland is the price of tickets to England, rain is the inches of rain Ireland receives annually, and Y is annual household income. Assuming PEngland is $1000, rain is 30 inches per year, and income is 40,000, how much would the price of tickets to Ireland have to fall for consumers to be willing to buy one more trip per year? A) $15 B) $20 C) $50 D) $200
Alan runs the only taxi service in town. Whenever he raises his fares above $.30 per mile, other taxi firms enter and compete with him to drive his fares back to $.30 per mile. Describe what kind of market Alan is operating in and if it is plausible that Alan might set his fare so as to achieve efficiency? Explain
An increase in demand will increase equilibrium price to a greater extent:
A. if the product is a normal good. B. if the product is an inferior good. C. the less elastic the supply curve. D. the more elastic the supply curve.