Which of the following are ways to sell a customer additional units without dropping the price on previous purchases
a. Offer quantity discounts
b. Offer two-part pricing ex: membership fees
c. Bundle the goods together
d. All of the above
d
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Comment on the following statement: "I decided to buy a car from a dealer in a town 100 miles away because he was offering a price that was $100 lower than the dealer in my hometown. Therefore, I saved $100"
What will be an ideal response?
What is deadweight loss and under what conditions does it occur?
What will be an ideal response?
A supply curve that is parallel to the price axis is
A) perfectly elastic. B) perfectly inelastic. C) relatively inelastic. D) unitary elastic.
When the good on the horizontal axis is a composite good, the slope of the budget constraint is minus the price of the good on the vertical axis.
Answer the following statement true (T) or false (F)