Each of the Following Is an Example of Price Discrimination

question 2

Multiple Choice

Each of the following is an example of price discrimination except

• A)senior citizen discounts at movie theaters.
• B)expensive blood tests in a medical lab for well-to-do medical patients.
• C)higher-priced movie tickets on "date-night."
• D)student rates for subscriptions to the Wall Street Journal.

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Definitions:

Vickery Auction

An auction model wherein bidders submit sealed bids, the highest bidder wins but pays the price offered by the second-highest bid, promoting truthful bidding.

Optimal Strategy

The best possible plan of action to achieve a specific goal or to maximize efficiency or effectiveness in a given situation.

Bid Aggressively

In a bidding scenario, to offer a significantly higher amount than other bidders, often to quickly secure an item or contract.

True Values

The actual, intrinsic worth or validity of something, not influenced by external factors or perceptions.