a) Deine price dizcriminaticn Prce discriminaion is the practic of charging diff
ID: 1103480 • Letter: A
Question
a) Deine price dizcriminaticn Prce discriminaion is the practic of charging diffierent prices to D, te sarte customers because of changes n oct. b) Vhichot the tolowing are required in onder tor a tim to price disciminata a. The industry must ba parfectty compettiva b. The im's demand curve mut be dward sloping c Consumers must be able to re-sel the good or senice d The custamars must hathe same wlingness to pay c. The firm mut be ablc to identry customers who are wing to pay more 1. The fir" rnust be ablelu idently custorns who re willing to pay less. Use the gr2ph below to ae the rema ning quesson5: 100 $90 $77 $25r 00 a c) Calculate the firm's proft if it isaside price moncpoly Profit-Explanation / Answer
1. The correct answer is C. Price discrimination is when goods are sold to different customers at different prices though costs of selling are the same. The correct answer is C.
2. The correct answer is B.
3. a) The profit is total revenue - total cost = 350(62-52) = $3500.
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