When an Electrical Utility Charges Higher Prices During the Day

question 22

Multiple Choice

When an electrical utility charges higher prices during the day than at night,it is practicing:

• A) peak load pricing.
• B) first-degree price discrimination.
• C) second-degree price discrimination.
• D) third-degree price discrimination.
• E) fourth-degree price discrimination.

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Definitions:

Rawlsian Justice

A theory of justice developed by John Rawls that emphasizes equal basic rights, equality of opportunity, and the promotion of the interests of the least advantaged members of society.

Social Contract

A theory or model that explains the origin of society and government as an implicit agreement among individuals to ensure collective security and welfare.

Distributional Justice

The ethical consideration of the fairness in the spread of wealth, income, and resources among all members of society.

Rawlsian Justice

A theory of justice that emphasizes fairness and equality, proposing that social and economic inequalities should be arranged to benefit the least advantaged members of society.