Suppose that a price-discriminating firm divides its market into two segments. If the firm sells its product for a price of $22 in the market segment where demand is relatively less elastic, the price in the market segment whose customers' demand is more elastic will be

Suppose Lisa spends all of her money on books and coffee. When the price of coffee decreases, the

A) substitution effect on coffee is positive, and the income effect on coffee is positive. B) substitution effect on coffee is ambiguous, and the income effect on coffee is ambiguous. C) substitution effect on coffee is positive, and the income effect on coffee is ambiguous. D) substitution effect on coffee is ambiguous, and the income effect on coffee is positive.

Supplier power tends to be low when

a. Suppliers are less concentrated b. Inputs provided by the supplier are not vital c. Inputs are homogenous d. All the above