ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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- Some universities charge students different tuition rates depending on their major, e.g., students in business or engineering typically pay more than in other majors. What would you need to know to determine whether or not this is price discrimination? Explain.arrow_forwardSome years ago, two intercity bus companies, Greyhound Lines, Inc. and Trailways Transportation System, wanted to merge. One possible definition of the market in this case was “the market for intercity bus service.” Another possible definition was “the market for intercity transportation, including personal cars, car rentals, passenger trains, and commuter air flights.” Which definition do you think the bus companies preferred, and why?arrow_forwardHow to calculate profit or loss in monopoly market ??arrow_forward
- Which price and quantity combination is undesirable for both the monopolist firm and society? A and E B and F C and G D and H A and Harrow_forwardPlease read the following article from The Atlantic on the proliferation of price discrimination for online shopping https://goo.gl/EGFynW A.) The article notes that we are moving toward a situation in which perfect price discrimination is no longer “only a classroom thought experiment.” Suppose perfect price discrimination were to become a reality. What would this imply as far as consumer surplus, producer surplus, and market surplus in the market for online retail? B.) The article references a study showing that by using big data online firms are able to boost profits. When firms engage in price discrimination and experience an increase in profits, does this imply that consumers are made worse off as a result? Explain. C.) Do you agree with the author’s belief that the proliferation of price discrimination “makes suckers of us all”? Explain. D.) Do you consider the increased price discrimination in recent years as a net positive or a net negative to society? Explainarrow_forwardIs a monopoly always undesirable? With a diagram.arrow_forward
- If Google is a monopoly, how would breaking up affect the market price and market quantity? How do we test these hypotheses?arrow_forwardIs a monopoly still subject the laws of supply and demand? How can it use these laws to its advantage?arrow_forwardExplain the first degree of the price discrimination in the economy?arrow_forward
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