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Suppose the price elasticity of demand for coffee at the CoffeeBarn equals 1.71 for women and 0.55 for men.A successful price discrimination strategy would lead to:
A.lower prices for men and women.
B.lower prices for men and higher prices for women.
C.lower prices for men and higher prices for women as long as the CoffeeBarn could prevent men from reselling drinks to women.
D.higher prices for men and lower prices for women as long as the CoffeeBarn could prevent women from reselling drinks to men.
Quantity Demanded
The total amount of a good or service that consumers are willing and able to purchase at a specific price in a given period.
Price
The payment magnitude expected, called for, or compensated in exchange for something.
Law of Demand
A principle stating that all else being equal, as the price of a good or service increases, the quantity demanded decreases, and vice versa.
Inverse Relationship
A relationship between two variables in which one variable increases as the other decreases.
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