Which of the following is an example of price discrimination?
a. Seniors paying a lower price for tickets at movie theatres
b. Students paying discounted rates on travel
c. Tourists paying higher prices on local attractions than locals
d. All of the above
d
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The sum of the marginal private benefit and the marginal external benefit derived from eco-tourism in British Columbia is called the
A) total private benefit. B) net gain. C) total external benefit. D) marginal social benefit. E) total Coase benefit.
You are on a vacation in a foreign country. Because it is your first visit to the country, you do not know much about the tourist spots. So you decide to ask the manager of the hotel regarding the popular tourist places
He tells you that there is a waterfall and a beautiful park close to the hotel that you can visit. You are wondering which place to go to when you overhear some of the tourists planning a trek to one of the falls. You decide to join them. This is an example of a(n) ________. A) moral hazard B) adverse selection C) pecuniary externality D) information cascade