Purchasing a season pass to the local symphony
A) is an example of first degree price discrimination.
B) is an example of second degree price discrimination.
C) is an example of third degree price discrimination.
D) All of the above.
B
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The slope of a perfectly elastic demand curve is equal to zero
a. True b. False Indicate whether the statement is true or false
Which statement is true?
A. There are at least a dozen different theories of poverty. B. The liberals and conservatives are in basic agreement about the causes of poverty. C. The liberals and conservatives are in basic agreement about how to solve the poverty problem. D. None of these statements are true.
The price of a new textbook increases from $200 to $270, while the price of used copies of the textbook increased from $100 to $125. Other things being equal, we would expect
A. the quantity demanded of the used textbook to increase and the quantity demanded of the new textbook to decrease. B. the demand for the new textbook to increase and the demand for the used textbook to decrease. C. the quantity demanded of the used textbook to decrease and the quantity demanded of the new textbook to increase. D. the quantity demanded of both to fall.
Refer to the information provided in Figure 3.13 below to answer the question(s) that follow.
Figure 3.13Refer to Figure 3.13. Assume hamburgers are a normal good. A decrease in income will cause a movement from
A. S2 to S1. B. Point G to Point F. C. D2 to D1. D. Point A to Point B.