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It's September and Sophia Wants to Buy Some Arts and Crafts

question 144

Multiple Choice

It's September and Sophia wants to buy some arts and crafts supplies for an after-school program she is developing for her daughter's elementary school.In her Sunday newspaper was a flyer from Michael's,an arts-and-crafts retailer.As she looked through the newspaper insert,she noticed that if she purchased three or more bottles of Alene's Tacky Glue,the regular price of $1.50 each was reduced to $1.15 each.She also saw that the store priced its plastic storage boxes at $1.99,$3.99,and $5.99.She thought they would be useful for storing each individual child's projects.On the front page of the flyer was an ad for Funky Girls Gel Pens,something she knew her daughter would love to use.The price at Michael's was $6.99 lower than the price she had found at the other stores that carried the pens.She thought that some of the older girls might like to start a scrapbook and was pleased to find that Michael's had a scrapbook starter kit,which includes scissors,book,pages,and stickers for only $15.The items could be purchased separately for $19.99.The flyer also announced that all flag-related items leftover from its Canada Day sale were reduced by 40 percent.
-Refer to Art Supplies.Which type of discount is being using to price the Tacky Glue?

Definitions:

Inverse Demand Function

A mathematical relationship expressing the price of a good or service as a function of the quantity demanded, implying how prices vary with changes in quantity demanded.

Inverse Supply

A concept in economics where the supply curve is expressed as a function of price rather than quantity supplied.

Tax

A compulsory financial charge or levy imposed by a government on individuals or entities to fund government spending and various public expenditures.

Supply Curve

A graphical representation of the relationship between the price of a good and the quantity of the good supplied.