Of the following, the most likely example of price discrimination is when:
A. restaurants charge different prices for chicken and beef.
B. hotels charge different rates for the same rooms when conventions are held.
C. supermarkets charge different prices for oranges and apples.
D. a firm sells different shoes for different prices.
Answer: B
You might also like to view...
In economics, normative statements are about
A) the way things ought to be. B) the way things are. C) marginal benefits, not marginal costs. D) marginal costs, not marginal benefits.
Two social institutions that are essential for trade to be organized are ________
A) property rights and laws B) markets and banks C) businesses and banks D) markets and property rights
Collateral is ________ the lender receives if the borrower does not pay back the loan
A) a liability B) an asset C) a present D) an offering
Pham can work as many or as few hours as she wants at the college bookstore for $9 per hour. But due to her hectic schedule, she has just 19 hours per week that she can spend working at either the bookstore or at other potential jobs. One potential job, at a café, will pay her $12 per hour for up to 7 hours per week. She has another job offer at a garage that will pay her $10 an hour for up to 5 hours per week. And she has a potential job at a daycare center that will pay her $8.50 per hour for as many hours as she can work. If her goal is to maximize the amount of money she can make each week, how many hours will she work at the bookstore?
a. 4 hours b. 7 hours c. 12 hours d. 16 hours