Second-degree price discrimination occurs when
A) different prices are charged for different blocks of services.
B) different groups of buyers are charged different prices based on their price elasticities of demand.
C) a different price is charged for each amount of a product purchased.
D) None of the above
A
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How does the United States compare to other nations on a per capita scale as far as government production and taxation?
What will be an ideal response?
In the aggregate expenditure (AE) model, when real GDP exceeds aggregate planned expenditure, actual inventories ________ planned inventories and real GDP ________
A) are less than; decreases B) exceed; increases C) exceed; does not change D) are less than; increases E) exceed; decreases
Transportation Department requires that airlines give refunds for tickets ___________ within 24 hours of a purchase, or offer a 24-hour hold, for tickets bought more than a week before departure.
Fill in the blank(s) with the appropriate word(s).
Perfume industry statistics show that over the past five years, the number of bottles of perfume sold decreased by 30%, but the total dollar amount spent by consumers was unchanged. This means that
A. consumers were unresponsive to changes in price, i.e., the percentage change in quantity demanded was less than the percentage change in price. B. demand was unitary elastic. C. demand was elastic. D. demand was inelastic. E. both a and c