Welfare economics is the study of the welfare system

Second-degree price discrimination occurs when:

A) each consumer is charged exactly their willingness to pay. B) different groups of consumers are charged different prices. C) consumers are charged different prices at different points of time. D) consumers are charged different prices based on characteristics of their purchase.

Which of the following statements concerning the slope and price elasticity of demand along a straight-line demand curve is correct?

a. Slope measures the change in quantity resulting from a one-dollar change in price. b. Elasticity measures the percent change in price resulting from a one-percent change in quantity demanded. c. Slope measures the dollar change in price for a one-unit change in quantity demanded. d. Elasticity measures the unit change in quantity demanded resulting from a one-dollar change in price. e. Slope measures the percent change in price resulting from a one-percent change in quantity demanded.