Charging different prices to different buyers for different products is called price discrimination.
Answer the following statement true (T) or false (F)
False
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We would expect the cross-price elasticity of demand between dress shirts and ties to be ________, indicating that they are ________
A. positive; secondary goods. B. negative; complements. C. negative; substitutes. D. positive; complements.
The rate of economic growth will be faster if
A) the rate of growth of the population is higher. B) consumption spending is greater. C) the rate of saving is higher. D) the rate of growth of the money supply is higher.
A reason tariffs and quotas are imposed is that
A) their costs are spread among many people and their benefits are concentrated. B) their costs are concentrated and their benefits are spread among many people. C) they create net benefits in the long run. D) they reduce import dependence.
Second-degree price discrimination is the practice of charging
A) the reservation price to each customer. B) different prices for different quantity blocks of the same good or service. C) different groups of customers different prices for the same products. D) each customer the maximum price that he or she is willing to pay.