The Local Zoo Has a Pricing Policy in Which Senior

question 2

Multiple Choice

The local zoo has a pricing policy in which senior citizens pay a lower price than younger adults.This policy is:

• A)a form of perfect price discrimination.
• B)a form of third-degree price discrimination.
• C)certain to reduce total revenues for the zoo.
• D)certain to reduce the number of visitors to the zoo.

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Definitions:

Pension Benefit Guarantee Corporation

A U.S. government agency that protects the retirement incomes of American workers by insuring defined-benefit pension plans.

Defined-Benefit Retirement Plan

A type of pension plan where an employer promises a specified retirement benefit to employees based on a formula, typically involving years of service and salary history.

Pension Benefit Guarantee Corporation

A U.S. federal agency that protects the pension benefits in private-sector defined benefit plans if the company fails to meet its pension obligations.

Stock Market

A public market for the trading of company stock and derivatives at an agreed price; it is a key indicator of the health of an economy.