"Price discrimination is the same as price differentiation." Do you agree or disagree? Why?
What will be an ideal response?
Disagree. Price discrimination is the act of selling a given product at more than one price but no difference in marginal cost. In contrast, price differentiation is the act of selling a given product at more than one price in order to reflect differences in marginal bost.
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If the quantity supplied of science fiction novels decreases by 3% and the price elasticity of supply is 15, what has been the percentage price change?
a. -15% b. -3% c. -5% d. -0.2%
Which of the following is not a financial instrument?
A. A share of Microsoft stock B. An electric bill C. A U.S. Treasury Bond D. A life insurance policy
Which of the following best represents economic growth?
A. an increase in real Gross Domestic Product (GDP) B. an increase in nominal Gross Domestic Product (GDP) C. an increase in the per capita nominal Gross Domestic Product (GDP) D. an increase in the per capita real Gross Domestic Product (GDP)
When you see a preview of a coming movie at the movie theater, this is
A. direct market advertising. B. persuasive advertising. C. indirect market advertising. D. informational advertising.