A Firm Switching from a Single Price to a Price

question 98

Multiple Choice

A firm switching from a single price to a price discrimination scheme will _______ the price for the group of consumers with relatively elastic demand and _______ the price for the group of consumers with relatively inelastic demand.

• A)decrease; increase
• B)decrease; decrease
• C)increase; increase
• D)increase; decrease

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Definitions:

Questionnaires

A research instrument consisting of a series of questions designed to gather information from respondents about various topics.

Anonymous

A state where an individual's identity is unknown or not disclosed, often used to protect privacy or encourage honest responses.

Administered

The process by which a test, medication, or procedure is given or applied to a participant or patient in a controlled manner.

Expensive

Involving a high cost or requiring a lot of resources.