This topic contains a solution. Click here to go to the answer

Author Question: Why are prices for groceries and household items typically higher at a 24-hour convenience store ... (Read 127 times)

drink

  • Hero Member
  • *****
  • Posts: 554
Why are prices for groceries and household items typically higher at a 24-hour convenience store compared to stores open from 6 am to 11 pm?
 
  A) Shoppers' options are generally fewer in the middle of the night.
  B) The elasticity of demand of the middle-of-the-night shopper is typically higher than the mid-day shopper's elasticity.
  C) The owners of the 24-hour stores are typically more selfish than the others.
  D) The owners of the 24-hour stores are more interested in maximizing net revenue compared to the others.

Question 2

Refer to the scenario above. Which of the following is likely to be true if Joe is known to be trustworthy?
 
  A) Multiple equilibria will occur.
  B) A Nash equilibrium will occur.
  C) A socially inefficient equilibrium will occur.
  D) A dominant strategy equilibrium will occur.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

jojobee318

  • Sr. Member
  • ****
  • Posts: 298
Answer to Question 1

A

Answer to Question 2

B




drink

  • Member
  • Posts: 554
Reply 2 on: Jun 29, 2018
Thanks for the timely response, appreciate it


mjenn52

  • Member
  • Posts: 351
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

 

Did you know?

Disorders that may affect pharmacodynamics include genetic mutations, malnutrition, thyrotoxicosis, myasthenia gravis, Parkinson's disease, and certain forms of insulin-resistant diabetes mellitus.

Did you know?

Russia has the highest death rate from cardiovascular disease followed by the Ukraine, Romania, Hungary, and Poland.

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

In 2012, nearly 24 milliion Americans, aged 12 and older, had abused an illicit drug, according to the National Institute on Drug Abuse (NIDA).

Did you know?

The average adult has about 21 square feet of skin.

For a complete list of videos, visit our video library