Which of the following statements about price discrimination is FALSE? Question 17Answer a. Price discrimination is inconsistent with perfect competition b. 1st degree price discrimination always results in an efficient outcome c. None of the statements are false d. Price discrimination typically improves efficiency e. 3rd degree price discrimination always results in an efficient outcome
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Which of the following statements about
Question 17Answer
Price discrimination is inconsistent with
1st degree price discrimination always results in an efficient outcome
None of the statements are false
Price discrimination typically improves efficiency
3rd degree price discrimination always results in an efficient outcome
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- Consumer H Consumer L Limited $50 $25 Pro $175 $100 5.Refer to the above table of consumer valuations for two versions of a software product. If the manufacturer of the software product hopes to exercise second degree price discrimination, what should be the incentive compatible prices for the Limited and Pro versions of the software? Is second degree price discrimination profit maximizing?. Discuss the grocery store coupon market, and explain why the grocery stores can use price discrimination in this situation.Which of the following statements regarding perfect price discrimination is false? Question 7Answer a. Perfect price discrimination yields the same market price and output result as perfect competition. b. Perfect price discrimination can eliminate the deadweight loss to society of a monopoly. c. Perfect price discrimination is an attempt by monopolists to capture consumer surplus as profit. d. Perfect price discrimination is charging different prices to different buyers.
- Charging a price to different groups depending on their different demand elasticities is described as ... Selected answer will be automatically saved. For keyboard navigation, press up/down arrow keys to select an answer. a b C Write your response here... d e Question 9 1st Deg Price Discrimination 2nd Deg Price Discrimination 3rd Deg Price Discrimination 2-part pricing BundlingThe editorial Harper modern classics holds the rights to One Hundred Years of Solitude by Gabriel Garcia Marquez. The editorial sells the book both in the US and Colombia. The demand for the book in the US is given by Pus = 36 - 4Qus The demand for the book in Colombia is given by: = 24 - 42col . If MC-4 and Harper cannot price discriminate, who many units should Harper produce in the Colombian market to maximize profit? 0.75 1.75 2.75 3.75 P col 4.75Which of the following is the best example of perfect price discrimination? O A. An airline offers a discount to students. B. Universities give entry scholarships to poorer students. c. Students pay lower prices at the local theatre. D. A hotel charges for its rooms according to the number of days left before the check-in date. E. People who collect the mail coupons get discounts at the local food store,
- How does price discrimination play a role in the economy?How does the idea of price discrimination apply to an industry?33. Rodrigo gets a $1.00 discount by buying Cheerios on the end of the aisle that have a store coupon. Olivia buys the same sized Cheerios at the regular price in the cereal section. Is this price discrimination? True FalseMIcro: The company “Mike Broonie” operates in the market of monopolistic competition. Just now, the company weekly produces and sells 100 units of pillows for £12 each. The average total cost to produce the pillows doesn’t depend on the output, being £10 per unit. Having evaluated the price elasticity of demand for its product, the company concluded that demand is inelastic at the moment. a. What indicator characterizes the price elasticity of demand? What formula (or formulas) one can use to calculate this indicator? Choose any number for this indicator that, under the conditions specified in the case, could characterize the price elasticity of demand for the company “Mike Broonie”. b. Imagine that the owner of the company wants to increase the price of the company’s product. How will it affect sales, revenue, and profit (will each of these indicators increase, decrease, or remain the same)? Give here theoretically substantiated forecast. To increase the number of points…
- a. What conditions must hold true for a firm to price discriminate? b. How and why might barber shops price discriminate? How are the conditions in part (a) met in the case of a barber shop? (Note: your discussion should revolve around elasticities)If a firm engages in perfect price discrimination, it charges a. different prices to customers based on how many units of output they buy b. each customer the highest price the customer is willing to pay c. different prices to customers based on how old they are d. each customer the average cost of the product e. each customer the lowest price the customer is willing to paywhat is the following pricing strategy or price discrimination approach? Unauthorized ticket speculators purchase and resell concert tickets. a.Bundling b.Direct Segmentation Price Discrimination c.Complete Price Discrimination d.Indirect Segmentation Price Discrimination e.Peak Load Pricing