For a monopolist to practice effective price discrimination, one ...

[kshipps]

For a monopolist to practice effective price discrimination, one necessary condition is:
 a. identical price elasticity among groups of buyers.
  b. differences in the price elasticity of demand among groups of buyers.
  c. that the product is homogeneous market.
  d. none of these.

Question 2

An increase in the consumption of a good resulting from a reduction in price that makes the good cheaper in relation to other goods is called the:
 a. substitution effect.
  b. income effect.
  c. real balance effect.
  d. inelasticity effect.

[nguyenhoanhat]

Answer to Question 1

b

Answer to Question 2

a

[kshipps]

YES! Correct, THANKS for helping me on my review

[sultansheikh]

Thanks for the timely response, appreciate it