The law of demand is graphically depicted as a(n)

Which of the following would not be considered price discrimination?

a. charging higher rates on long distance calls during normal business hours b. giving lower air fares to those who buy tickets a month before departure c. charging lower prices for senior citizens at museums d. getting separate prices for residential and commercial users of natural gas e. charging more for BMWs than for Chevrolets

Suppose two economists agree about who would be helped or hurt by certain legislation, but disagree about whether the legislation would be a good idea. These disagreements

a. are positive in nature b. are minor and rarely lead to different policies or conclusions c. are normative in nature d. occur as the result of a mistake made by an economist e. occur because economic models are more complex, and subject to error, than the real world