Which of the following would cause a change in the quantity demanded of a product?
A) a higher price
B) a higher income
C) expectations of future price increases
D) All of the above are correct.
Answer: A
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Vacation tours to Europe invariably package visits to disparate regions: cities, mountains, and the seaside. Bundling, a type of second degree price discrimination, is most profitable when:
a. the preference rankings of vacationers travelling together are negatively correlated. b. a preference for cities is always higher than preferences for mountain vistas. c. preference rankings of vacationers travelling together are positively correlated. d. preference for the seaside is always higher than preferences for city excursions. e. no one wants to take a European vacation package to cities, mountains, and the seaside.
For which pair of firms would a merger be horizontal?
a. Avis Rentals and United Airlines b. Rawlings and Nike c. Barnes and Noble and Wordsworth Booksellers d. Starbucks and Baskin and Robbins e. Samuel Adams and Samsonite