If the price elasticity of demand for airline tickets is 2.0 for a leisure traveler and 0.5 for a business traveler, then a price-discriminating monopolist would charge
A) a higher price for the business traveler than the leisure traveler.
B) the same price for both travelers.
C) a lower price for the business traveler than the leisure traveler.
D) a less profitable price for the business traveler than the leisure traveler.
A
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A) a computer tablet B) wheat C) iron ore D) lumber
If Mr. McConaughey has 7 hours to spend with friends and family and breaking a sweat, he will maximize his utility if he spends
A) 2 hours with family and friends and 5 hours breaking a sweat. B) 5 hours with family and friends and 5 hours breaking a sweat. C) 4 hours with family and friends and 3 hours breaking a sweat. D) 3 hours with family and friends and 4 hours breaking a sweat.