Which of the following is not an example of price discrimination?
A) Unlike foreign tourists, citizens of Cambodia are exempted from paying an admission fee to the temples of Angkor.
B) Senior citizens may purchase special fare tickets for public transportation that are not available to others.
C) Adobe Systems offers software at discounted prices to students and faculty at K-12 and university levels.
D) Buyers at an automotive parts store receive a discount for bulk buying because the store is able to pass on to its customers some of the lower average cost for producing large quantities.
D
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An example of moral hazard is
a. workers working diligently even though the boss is not looking b. health care insured employees forgoing their diet and exercise c. drivers of safer cars turning their phones off before driving d. borrowers investing their loan proceeds exactly as the bank requires
Assume there is a price floor imposed on a good which is above the equilibrium price. Which of the following changes would reduce the size of the surplus?
a. An increase in demand. b. A decrease in demand. c. An increase in supply. d. Any of the above.