Compare and list a firm'a informational needs for first, second and third degree price discrimination. Note:...
Homework Answers
Information needs for first degree price discrimination:
i) Exact customer willingness to pay for a specific product or service
The seller estimate this by studying consumer purchase behavior, income, budget and direct contact
Information needs of second degree price discrimination:
i) Whether customer is willing to buy in bulk or only a single product
Information needs of third degree price discrimination:
i) Study of demographics of customer base - students, military, senior citizens
Add Answer to:
Compare and list a firm'a informational needs for first, second and
third degree price discrimination.
Note:...
a) Compare a firm's informational needs to engage in 1st, 2nd and 3rd degree price discrimination. b) In second degree...
a) Compare a firm's informational needs to engage in 1st, 2nd and 3rd degree price discrimination. b) In second degree price discrimination, supposr who benefirs frım the presence of other group, high demand consumers or low demand consumers? Explain.
4. a) Discuss a firm's informational needs to engage in 3"d, and 2nd degree price discrimination....
4. a) Discuss a firm's informational needs to engage in 3"d, and 2nd degree price discrimination. In third degree price discrimination what is the relationship between price set for a specific group and price elasticity of demand for that group? b) In second price discrimination, suppose who benefits from the presence of the other group, high demand consumers or low demand consumers? Explain
Cereal manufacturers' use of coupons can be partially explained by: a. first-degree price discrimination. b. second-degree...
Cereal manufacturers' use of coupons can be partially explained by: a. first-degree price discrimination. b. second-degree price discrimination. c. third-degree price discrimination. d. markup pricing. e. tying.
Describe the different price strategies. Discuss when a firm would employ first, second, or third-degree price...
Describe the different price strategies. Discuss when a firm would employ first, second, or third-degree price discrimination. Provide an example of a first degree, second degree, third degree, and an advanced pricing strategy. Also talk about the pros and cons to different pricing strategies (for example complex, hard to implement, amount of producer surplus generated). PLEASE BE DETAILED AND PROVIDE CLEAR EXAMPLES. THANK YOU!
1. Give an example of a good or service that is commonly sold using second-degree price discrimination, and one that is commonly sold using third-degree price discrimination, besides the ones mentione...
1. Give an example of a good or service that is commonly sold using second-degree price discrimination, and one that is commonly sold using third-degree price discrimination, besides the ones mentioned in the lecture and textbook. Be sure to provide enough information about how these goods are sold to make it clear that they are valid examples. 2. Using at least one graph, explain how it is possible that firms in a monopolistically competitive industry can have monopoly power, yet...
QUESTION 5: THIRD DEGREE PRICE DISCRIMINATION (20pt) A monopolist engages in third degree price discrimination.There are...
QUESTION 5: THIRD DEGREE PRICE DISCRIMINATION (20pt) A monopolist engages in third degree price discrimination.There are 2 types of consumers, and the monopolist wants to sell to both groups. The monopolist is allowed to charge different prices and hence engages in third degree price discrimination. The demand curve for each group (the entire group) is as follows 01 500 10P Q2 200-5P2 The total cost function is TC 2000+10Q (a) What price does this firm charge to each group? (b)...
Compare the welfare implications of perfect competition and a monopoly with first degree price discrimination. Under...
Compare the welfare implications of perfect competition and a monopoly with first degree price discrimination. Under what conditions do we have market efficiency?
In general successful second degree price discrimination requires the firm to know more information about consumers than...
In general successful second degree price discrimination requires the firm to know more information about consumers than successful first degree price discrimination. True/False. Give your selection and a very brief explanation.
Electric utilities often practice second-degree price discrimination. Why might this improve consumer welfare? Second-degree price discrimination...
Electric utilities often practice second-degree price discrimination. Why might this improve consumer welfare? Second-degree price discrimination might improve consumer welfare because, compared with single-monopoly pricing, A.profit is higher. B.output is higher. C.producer surplus is lower. D.prices are lower. E.variety is greater.
1 pts Question 21 Which of the following is an example of third degree price discrimination?...
1 pts Question 21 Which of the following is an example of third degree price discrimination? None of these are third degree price discrimination A baseball stadium offers discounts to senior citizens A cable provider offers a package so customers can get cable and high-speed internet with a single subscription A car salesman can charge each customer exactly what he or she is willing to pay for the cars at his dealership 1 pts Question 22 Which of the following...
4. a) Discuss a firm's informational needs to engage in 3"d, and 2nd degree price discrimination. In third degree price discrimination what is the relationship between price set for a specific group and price elasticity of demand for that group? b) In second price discrimination, suppose who benefits from the presence of the other group, high demand consumers or low demand consumers? Explain
QUESTION 5: THIRD DEGREE PRICE DISCRIMINATION (20pt) A monopolist engages in third degree price discrimination.There are 2 types of consumers, and the monopolist wants to sell to both groups. The monopolist is allowed to charge different prices and hence engages in third degree price discrimination. The demand curve for each group (the entire group) is as follows 01 500 10P Q2 200-5P2 The total cost function is TC 2000+10Q (a) What price does this firm charge to each group? (b)...
Compare the welfare implications of perfect competition and a monopoly with first degree price discrimination. Under what conditions do we have market efficiency?
1 pts Question 21 Which of the following is an example of third degree price discrimination? None of these are third degree price discrimination A baseball stadium offers discounts to senior citizens A cable provider offers a package so customers can get cable and high-speed internet with a single subscription A car salesman can charge each customer exactly what he or she is willing to pay for the cars at his dealership 1 pts Question 22 Which of the following...
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