Discuss the concept of price discrimination. What are the types of price discrimination? Why do certain firms with market power use price discrimination? Any real-life example of firms practicing price discrimination.

1. The cross-price elasticity of demand for Organic fruit with respect to the price of non-organic fruit is 4. Which of the following is an appropriate interpretation of the relationship between organic fruit and non-organic fruit?
   1. The two goods are complements in consumption and consumers are not sensitive to prices
   2. The two goods are complements in consumption and consumers are sensitive to prices
   3. The two goods are substitutes in consumption and consumers are not sensitive to prices
   4. The two goods are substitutes in consumption and consumers are sensitive to prices

1- For a perfectly competitive firm, marginal revenue:

is less than price.

is equal to price.

decreases as the firm increases output.

is greater than price.

2-Which of the following are characteristics of a monopoly market structure?

In a monopoly,

there is only one firm in the industry.

no close substitutes are available.

firm(s) have little to no price-setting power.

there are low barriers to entry into the market.

3-You own a small deli that sells sandwiches, salads, and soup. Which factor is an implicit cost of the business?

bread, meat, and vegetables used to produce the items on your menu

the job offer you did not accept at a local catering service

wages paid to part-time employees

your monthly utility bill

If perfectly competitive firms are price takers, and monopolistic, monopolistic competitive, and oligopolistic firms are price searchers, then it follows that three times as many firms in the real world are price searchers than are price takers. Do you agree or disagree? Explain your answer. (400 - 500 words)

Thank you in advance for not copying other's answers.

When the price level in Australia rises relative to the price level of other countries, ceteris paribus, ________ will rise, ________ will fall, and ______ will fall.
A) imports; exports; net exports
B) exports; imports; net exports
C) net exports; exports; imports
D) net exports; imports; exports

Define price elasticity of supply. Discuss any four determinants of price elasticity of supply.

If perfectly competitive firms are price takers, and monopolistic, monopolistic competitive, and oligopolistic firms are price searchers, then it follows that three times as many firms in the real world are price searchers than are price takers. Do you agree or disagree? Explain your answer. (Answer: 400-500 words)

When a monopolist changes from charging a single price to perfect price discrimination, it
a. Reduces the quantity produced and maintains profits at a fixed level.
b. Reduces the firm’s profits and output.
c. Increases consumer surplus and decreases producer surplus.
d. Increases profits and eliminates consumer surplus

Currently, consumers earn 2,000, the price of x-jae is 50 and the price of y-jae is 80. utility function u=1/2xy
(1) Get a Budget Set
(2) Seek a Consumer Balance Point
(3) What is the price effect if the price of x material falls to 20? And what are the income effects and the magnitude of the alternative effects respectively (take into account the magnitude of the utility represented by the indiscriminate curve)?

1)Using the formula for measuring the price elasticity of supply: Suppose the price of apples goes up from $18 to $20 a box. In direct response, Goldsboro Farms supplies 1,200 boxes of apples instead of 1,000 boxes.

A)Compute the coefficient of price elasticity of supply (midpoints approach) for Goldsboro’s supply.

B)Is its supply elastic, or is it inelastic?

C)Does income increase or decrease based on answer in B- Explain-don’t compute

2) Suppose the cross elasticity of demand for products A and B is +3.6 and for products C and D is -5.4.

A) What can you conclude about how products A and B are related?

B) Products C and D?