A price-discriminating monopolist will tend to charge a lower price to students if it believes that students:
a. have a lower willingness to pay than other demanders.
b. have a greater willingness to pay than other demanders.
c. have very elastic demand curves

Refer to Figure 12-16. Which panel best represents the perfectly competitive organic produce market in which firms are breaking even, economically, organic produce is considered a normal good, and the average income level of consumers is rising?

A) Panel A B) Panel B C) Panel C D) Panel D

The price elasticity of demand is a measure of:

A. the change in quantity demanded of a good that results from a change in its price. B. the demand for a good. C. how consumers respond to excess demand. D. the change in price of a good that results from a change in its quantity demanded.