The Figure Given Below Shows the Demand Curves of Two

question 44

Multiple Choice

The figure given below shows the demand curves of two classes of buyers, for tickets to a football match.Figure 11.4
D₁: Demand curve of group 1
D₂: Demand curve of group 2
MR₁: Marginal revenue of group 1
MR₂: Marginal revenue of group 2
MC: Marginal cost
-Perfect price discrimination occurs when:

• A)each customer is charged the maximum price that each is willing and able to pay.
• B)two classes of customers are charged different prices as they have the same elasticities of demand.
• C)senior citizens are offered restaurant discounts.
• D)the firm sets MR < MC for each class of customers.
• E)the firm charges same price to different customers so that it is equal to the equilibrium price.

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Definitions:

Noncyclic Pathway

A linear process in photosynthesis where electrons move from water to NADPH without cycling back to the original state.

Cyclic Pathway

A series of biochemical reactions that occur in a sequence where the last step regenerates a reactant for the first step, forming a cycle, such as in the citric acid cycle.

Fossil Fuels

Natural fuels formed from the remains of ancient organisms, such as coal, oil, and natural gas, used as a source of energy.

Photosynthetic Organisms

Organisms that convert light energy into chemical energy through photosynthesis, using water and carbon dioxide to produce oxygen and glucose.