If a Price-Discriminating Monopolist Sells the Same Product in Two

question 220

Multiple Choice

If a price-discriminating monopolist sells the same product in two markets but charges a higher price in market X and a lower price in market Y, the pricing difference indicates that demand is

• A) more elastic in market X than in market Y.
• B) less elastic in market X than in market Y.
• C) less elastic in market Y than in market X.
• D) the same in both markets X and Y.

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Definitions:

Evolutionary Force

Any factor that brings about changes in the genetic makeup of a population, aiding in evolution.

Inheritance Of Acquired Characteristics

A discredited biological hypothesis originally proposed by Jean-Baptiste Lamarck, suggesting that traits developed during an organism's life can be passed on to its offspring.

Jean-Baptiste Lamarck

A French naturalist who proposed an early theory of evolution, suggesting that organisms could pass on traits acquired in their lifetime to their offspring.

Analogies

In biology, structures possessed by different organisms that are superficially similar due to similar function but that do not share a common developmental pathway or structure.