For a monopoly to successfully price discriminate, its customers ...

[ericka1]

For a monopoly to successfully price discriminate, its customers must:
 a. feel that the product is a necessity.
  b. have identical demands.
  c. be unable to resell the product.
  d. actively engage in arbitrage.

Question 2

When the price of a good falls, consumers buy more of the good because it is cheaper relative to competing goods. This statement describes the:
 a. consumer equilibrium effect.
  b. price effect.
  c. income effect.
  d. substitution effect.

[brittrenee]

Answer to Question 1

c

Answer to Question 2

d

[ericka1]

Thanks for the timely response, appreciate it

[Sarahjh]

Gracias!