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Author Question: A price-discriminating monopoly charges the lowest price to the group that: a. has the most elastic ... (Read 80 times)

eruditmonkey@yahoo.com

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on: Jun 30, 2018
A price-discriminating monopoly charges the lowest price to the group that:
 a. has the most elastic demand.
  b. purchases the largest quantity.
  c. engages in the most arbitrage.
  d. is least responsive to price changes.

Question 2

Which of the following would cause a consumer to purchase less of a good when the price of the good rises?
 a. The income effect
  b. The substitution effect
  c. Both a and b
  d. Neither a nor b


soda0602

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Reply #1 on: Jun 30, 2018
Answer to Question 1

a

Answer to Question 2

c


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