Give a real life example of the third-degree price
discrimination. How the consumers are selected into...
Give a real life example of the third-degree price
discrimination. How the consumers are selected into one or another
price group. Explain, which of the group of the consumers has a
more elastic demand, and why.
Price discrimination
Give a real life example (2 examples) of the third-degree price
discrimination (different from anyexamples in the lecture or in
textbook). How the consumers are selected into one or another price
group. Explain, which of the group of the consumers has a more
elastic demand, and why.
A monopolist practicing third degree price discrimination has two types of consumers. Type 1 have an elasticity of demand of 2, and Type 2 have an elasticity of demand equal to 5. Which of the following is true?
4. What is second degree price discrimination and third degree
price discrimination? Explain with examples.
5. Compare the three types of market structure: perfect
competition, monopoly and monopolistic competition.
6. Explain Giffen goods and Veblen goods and their similarities
and differences in terms of price and income elasticity of
demand.
7. Explain the cobweb model.
8. Explain how the elasticity of demand affects the revenue of
the seller.
9. Explain the relationship between the marginal cost curve of
an individual...
2. Student pricing at the movie theater is a common example of
third degree price
discrimination. What is it about students, as compared to
everyone else, that makes
movie theaters want or need to charge them a lower price? Why is
it important for
movie theaters to make students show their IDs? Additionally,
suppose a student could
buy as many tickets as they wanted with their ID. How might that
limit the theater’s
ability to charge two drastically different prices...
Student pricing at the movie theater is a common example of
third-degree price discrimination. What is it about students, as
compared to everyone else, that makes movie theaters want or need
to charge them a lower price? Why is it important for movie
theaters to make students show their IDs? Additionally, suppose a
student could buy as many tickets as they wanted with their ID. How
might that limit the theater’s ability to charge two drastically
different prices for students...
Define price
discrimination. Explain the difference between first-degree and
third-degree price discrimination with two examples of each. Your
answer will not be complete without two examples of each.
Provide your answer
here. DO NOT TRY TO COPY/PASTE YOUR ANSWER.