Explain the optimal strategy that a price discriminating firm would use when pricing in markets with different elasticities

What will be an ideal response?

The optimal strategy for a firm that can sell in more than one market is to charge higher prices in markets with low demand elasticities and vice versa.

Economics

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Say that after graduation you live in Manhattan and you walk to work. Then, you got a raise and you take a taxi most days. As a result, GDP would most likely ___.

A. fall B. be unchanged C. rise

Economics

The phrase in the text, 'human beings are self-interested, not selfish' means that:

a. people are never selfish. b. people never act in a spiteful or belligerent manner. c. people never act in a fit of rage. d. people contribute to charities and they help others. e. people care only about themselves and their families.

Economics