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Author Question: Customers are usually more willing to pay more for the first unit of a good they purchase than for ... (Read 45 times)

ghost!

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on: Jul 1, 2018
Customers are usually more willing to pay more for the first unit of a good they purchase than for the second, third, or subsequent units. This implies that
 
  A) typical consumers are irrational.
  B) firms are using non-linear price discrimination.
  C) firms are unable to determine their customers' reservation prices.
  D) typical consumers have a downward sloping demand curve.

Question 2

The cross-price elasticity of demand for coffee and coffee-cream is likely to be
 
  A) greater than zero.
  B) less than zero.
  C) zero.
  D) infinity.


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Jossy

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Reply #1 on: Jul 1, 2018
Answer to Question 1

D

Answer to Question 2

B


ghost!

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Reply 2 on: Jul 1, 2018
:D TYSM

mohan

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Reply 3 on: Yesterday
Excellent

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