Under What Circumstances Will a Price-Discriminating Monopolist Tend to Charge

question 12

Multiple Choice

Under what circumstances will a price-discriminating monopolist tend to charge a lower price to students?

• A) If it believes student demand is more inelastic than other demanders.
• B) If it believes student demand is graphically represented by a vertical curve.
• C) If it believes student demand is more elastic than other demanders.
• D) If it believes student demand is unit elastic.

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Definitions:

Election of Remedies

The election of remedies is a legal principle that requires a wronged party to choose a single legal remedy among several available, thereby preventing multiple recoveries for the same injury.

Specific Performance

A legal remedy requiring a party to execute a contract according to the precise terms agreed on, rather than paying damages.

Restitution

A legal principle that requires a party to restore the other party to their original position prior to a loss or injury, or to compensate for the loss.

Injunction

A legal order that requires an individual or entity to do or to cease doing a specific action.