Many bars close to campuses have started offering cheaper beer to consumers with a student ID. These bars
a. Assume students have a inelastic demand curve
b. Assume students have an elastic demand curve
c. Are practicing price discrimination
d. Both b and c
d
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Refer to Figure 18-1. Currency speculators believe that the value of the euro will increase relative to the dollar. Assuming all else remains constant, how would this be represented?
A) Supply would increase, demand would decrease and the economy moves from C to B to A. B) Supply would decrease, demand would decrease and the economy moves from B to C to D. C) Supply would decrease, demand would increase and the economy moves from A to D to C. D) Supply would increase, demand would increase and the economy moves from D to A to B.
Trade-offs force society to make choices when answering what three fundamental questions?
What will be an ideal response?