EBK PRINCIPLES OF MICROECONOMICS (SECON
2nd Edition
ISBN: 9780393616149
Author: Mateer
Publisher: W.W.NORTON+CO. (CC)
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Chapter 11, Problem 8SP
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Explain why an attraction is still motivated to apply price discrimination in pricing even though it has competitors. What assures its success in doing so?
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Q3) How is peak-load pricing a form of price discrimination? Can it make consumers better off? Give anexample.
Differentiate geographical pricing from psychological pricing.
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EBK PRINCIPLES OF MICROECONOMICS (SECON
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- Describe how the following firms could implement price discrimination (or an advanced pricing technique). Be specific about the degree, which markets/customers are charged higher/lower prices, and what might prevent them from implementing the strategy. Restaurants Airlines Cable Providers Apple growers hotelsarrow_forwardQ3) How is peak-load pricing a form of price discrimination? Give anexample.arrow_forwardIdentify nine common pricing methods.arrow_forward
- Suppose you were asked to manage a golf course that was currently charging a uniform price. Would you suggest that the course continue with this price plan or switch to a two-part pricing plan? Explain your decision and how you would choose the optimal price.arrow_forwardwhat are some pricing tactics used by companies? What form of price discriminations might a company use?arrow_forwardWhat would be your response to the statement,“Profit maximization is the only legitimate pricingobjective for the firm”?arrow_forward
- In the long run, monopolistically competitive firms will charge pricearrow_forwardwhat are some pricing tactics used by companies? What form of price discriminations might a company use? What type of pricing structure might company use. What other strategies might managers employ to maximize profit?arrow_forwardindirect price discrimination. Discuss the grocery store coupon market and explain why the grocery stores can use price discrimination in this situation.arrow_forward
- Hersheypark in Pennsylvania mentions the following offer on its Web page: “A military discount is available at Hersheypark during the regular summer operating schedule off of the Regular, Junior and Senior One Day admission. This discount is available to active duty military, reserves, retired military personnel, and members of the National Guard.” This is _____ price discrimination.arrow_forwardCandy bars are produced in a monopolistically competitive market. A profit-maximizing producer finds that marginal revenue equals marginal cost equals $1.50 when output is 500 bars. Also, The average total cost (ATC) is $3 and price is $2 when output is 500 bars. An economist studying this information can conclude that economic profit is -$500 -$450 -$300 $100arrow_forwardArticle: BIZ Community. 2023. Innovative sustainability trends give South Africa's coffee industry a caffeine kick, 21 June 2023. [Online]. Available at: https://www.bizcommunity.com/Article/196/87/239424.html# [Accessed 23 January 2023]. Q.4.1 Defend the use of third-degree price discrimination by Tribeca Coffee when entering new markets. Note: you are required to provide at least two (2) application points. Q.4.2 Identify two (2) common errors in pricing that Tribeca Coffee could be potentially exposed to when entering Ethiopia and recommend ways for the business to minimise the impact of such errors. Q.4.3 Tribeca Coffee has decided to invest in its own fleet of vehicles to move its product across the SADC region. Explain how the business can capitalise on opportunities and minimise the impact of challenges in transportation technology.arrow_forward
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