Give an example of price discrimination
What will be an ideal response?
Though there are many examples of price discrimination, price discrimination occurs when senior citizens get cheaper drugs, students get discounts at movies, or children under two can enter museums free.
Economics
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If the income effect of a change in the wage dominates the substitution effect, then workers will want to work more when the wage increases
a. True b. False Indicate whether the statement is true or false
Economics
Under laissez faire, society's decisions about how much of every product to produce depend on
a. consumer preferences only. b. production costs only. c. consumer preferences and production costs. d. neither consumer preferences nor production costs.
Economics