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Second-degree price discrimination is also known as
block rate setting.captures all consumer surplus.sets a different price for each customer.can only be used when customers can be segmented into groups.
What are the pros and cons of conducting an experimental versus an observational study? What are examples of these studies? Can both types of studies be used for all projects?
Create a list of reasons for your recommendation and include considerations of product features and use of advertising.
Explain why the relationship between the prices charged to locals versus the prices charged to out of town visitors? Why does this happen?
How is the equilibrium price determined? What happens if the price is above the equilibrium price? What happens if the price is below the equilibrium price?
Explain why a customer who select a consumption bundle in which relative price exceeds the marginal rate of substitution can not be at an optimum.
Suppose that a profit maximizing companies short run cost is TC=700+60Q. If the demand curve P=300-15Q, which of these options should it do in short run?
Identify the stocking rate that you would suggest to a risk averse farmer and explain why you would recommend this stocking rate.
What is total U.S. government revenue from the tariff and if trade opens up, what will be the quantity of U.S. imports?
The market is created by demand and supply of products in the economy. Describe the law of demand. Explain a situation in your life where you noticed this law at work.
The demand curve demonstrate that price and quantity are inversely related. Briefly describe two justifications for this relationship. The supply curve demonstrate a positive relationship between price and quantity supplied.
What is the average fixed cost of producing 2 units of output based on the following table:
Public administration can't exist outside of its political context. Describe how politics affects the policy making process and the delivery of governmental services.
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