Bob Has Been Incarcerated for 16 Years

question 31

Multiple Choice

Bob has been incarcerated for 16 years. He is serving a 20-year sentence for armed robbery. During his 16 years in prison he has been housed in seven different facilities around the state. During his 16 years in prison, Bob encountered many inmates. Ten years ago, another inmate stabbed Bob and a correctional officer after Bob would not give him his food. This inmate was sent to the most secure institution in the state, where inmates are typically on 23-hour lock-down. In this prison, the cells are angled so that prisoners can see neither each other nor the outside scenery. Which type of prison was this inmate sent to?

• A)minimum
• B)medium
• C)maximum
• D)supermax

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Definitions:

Price Discriminate

The practice of selling the same product or service at different prices to different customers, based on factors such as willingness to pay, market segment, or purchase location.

Demand (D)

The quantity of a particular good or service that consumers are willing and able to purchase at various prices during a certain period of time.

Marginal Revenue (MR)

The additional revenue that a firm gains from selling one more unit of a good or service.

Inelastic Segment

A portion of the demand curve where the price elasticity of demand is less than one, indicating consumers' insensitivity to price changes.