Author Question: One necessary condition for effective price discrimination is: a. identical tastes among buyers. ... (Read 118 times)

jenna1

  • Hero Member
  • *****
  • Posts: 568
One necessary condition for effective price discrimination is:
 a. identical tastes among buyers.
  b. difference in the price elasticity of demand among buyers.
  c. a single, homogeneous market.
  d. two or more markets with easy resale of products between them.

Question 2

According to the income effect, when the price of automobiles rises, people buy fewer automobiles because:
 a. they substitute other forms of transportation for driving.
  b. the nominal amount of their paychecks is smaller.
  c. the purchasing power of their income is reduced.
  d. their demand for automobiles is very elastic.



miss.ashley

  • Sr. Member
  • ****
  • Posts: 371
Answer to Question 1

b

Answer to Question 2

c



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The newest statin drug, rosuvastatin, has been called a superstatin because it appears to reduce LDL cholesterol to a greater degree than the other approved statin drugs.

Did you know?

A strange skin disease referred to as Morgellons has occurred in the southern United States and in California. Symptoms include slowly healing sores, joint pain, persistent fatigue, and a sensation of things crawling through the skin. Another symptom is strange-looking, threadlike extrusions coming out of the skin.

Did you know?

Despite claims by manufacturers, the supplement known as Ginkgo biloba was shown in a study of more than 3,000 participants to be ineffective in reducing development of dementia and Alzheimer’s disease in older people.

Did you know?

Multiple sclerosis is a condition wherein the body's nervous system is weakened by an autoimmune reaction that attacks the myelin sheaths of neurons.

Did you know?

Bacteria have been found alive in a lake buried one half mile under ice in Antarctica.

For a complete list of videos, visit our video library