Same profit-maximizing price where marginal revenue equals

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Reference no: EM131377306

1. When price discrimination occurs, the producer's profit is _____ if the producer charges each customer the same profit-maximizing price where marginal revenue equals _____ cost.

more than; marginal

the same as; marginal

the same as; average total

less than; marginal

2. Airlines that engage in price discrimination charge higher prices to business travelers because their _____ is more _____ than that of other travelers.

supply; elastic

demand; inelastic

supply; inelastic

demand; elastic

Reference no: EM131377306

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