Question : 16.4 Price Discrimination 1) To be able to price discriminate, a : 1241244

Economics

16.4 Price Discrimination

1) To be able to price discriminate, a firm must

A) lower prices for all customers.

B) raise prices for all customers.

C) be able to identify and separate different types of buyers.

D) sell a product that can be resold.

E) Both answers B and C are correct.

2) Which of the following must exist for a firm to engage in price discrimination?

A) The firm must be able to identify and separate its buyers into different classes, and the low-price buyers cannot resell the product to the high-price buyers.

B) The firm must face an inelastic demand.

C) The firm must be able to realize economies of scale.

D) The firm must have no more than one class of buyer.

E) The firm must be a natural monopoly.

3) A price-discriminating monopoly charges

A) the same price to every buyer for the same product.

B) a different price to different types of buyers for the same product, even though there are no differences in costs.

C) a different price to different buyers, because the costs are different.

D) different prices to buyers for different products.

E) each customer a price that equals the marginal cost of serving that customer.

4) Price discrimination is possible, in part, because

A) costs of production vary as output increases.

B) monopolies are regulated.

C) monopolies don’t profit maximize.

D) the willingness to pay can vary among groups of buyers.

E) monopolies face horizontal demand curves.

5) Arnie’s Airlines is a monopoly airline that is able to price discriminate. If Arnie’s decides to price discriminate, then

A) Arnie’s profit decreases.

B) consumer surplus decreases.

C) Arnie’s revenues decrease.

D) Arnie’s sells fewer tickets.

E) Arnie’s will see all of his tickets at a single price.

6) With price discrimination, a monopoly

A) converts consumer surplus into economic profit.

B) converts producer surplus into economic profit.

C) can charge a single price to all customers.

D) produces less output than if it does not price discriminate.

E) converts consumer surplus into deadweight loss.

7) One way a monopoly can convert additional consumer surplus into economic profit is to

A) lower prices.

B) raise prices.

C) price discriminate.

D) become more competitive.

E) produce where price equals average total cost.

8) An airline company

A) cannot price discriminate because it is against the law.

B) price discriminates by charging higher prices to business travelers.

C) price discriminates by charging lower prices to business travelers.

D) price discriminates even though its profits are lower because competition forces it to do so.

E) has fewer customers because it price discriminates than it would have if it did not price discriminate.

9) A price-discriminating monopoly

A) sells a larger quantity than it would if it were a single-price monopoly.

B) is illegal.

C) cannot offer discounts.

D) cannot control the price of its product.

E) makes a smaller economic profit than it would if it were a single-price monopoly.

10) Compared to setting a single price, if a firm can price discriminate it

A) makes a larger economic profit.

B) makes a lower economic profit.

C) makes zero economic profit.

D) has no change in its economic profit from when it set a single price.

E) might increase, decrease, or not change its economic profit depending on whether as a single-price monopoly its marginal revenue curve was above, below, or the same as its demand curve.

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July 1, 2023

Paula Plaintiff's Really Bad Week, Part 1

Introduction

In this assignment, you’ll need to decide whether Paula Plaintiff has any legal claims arising from a series of unfortunate events. After reading the scenario, answer the questions that follow, making sure to fully explain the basis of your decision.

Paula Plaintiff is shopping at her favorite store, Cash Mart. She is looking for a new laptop, but she can’t find one she likes. Then, realizing that she is going to be late for an appointment, she attempts to leave the store, walking very fast. However, before she can leave, she is stopped by a security guard who accuses her of shoplifting. Paula, who has taken nothing, denies any wrong doing. The officer insists and takes Paula to a small room in the back of the store. The guard tells Paula that if she attempts to leave the room she will be arrested and sent to jail. At this point, the guard leaves the room. Paula is scared and waits in the room for over an hour until the manager comes in and apologizes and tells Paula that she is free to go.

About this same time, Geoffrey Golfer is hitting golf balls in his backyard. Geoffrey decides to break out his new driver and hits a golf ball out of his backyard into the Cash Mart parking lot. The golf ball hits Paula Plaintiff on the head and knocks her unconscious just as she is leaving the store.

Instructions

In a 6–10 paragraph paper, answer the following questions:

· What types of legal claims could Paula make against Cash Mart and Geoffrey? Consider the following:

o What are the possible tort claims that Paula can make against Cash Mart? Discuss the elements of the claim and how those elements relate to the facts in the scenario.

o Was Geoffrey negligent when he hit the golf ball that injured Paula? Discuss the elements of negligence and use facts from the scenario to support your decision.

o If Paula files a negligence claim against Geoffrey will she file in civil court or criminal court? Explain the difference between civil court and criminal court.

You will create and submit your assignment by using the ecree link. Just click on the link and start writing. Your work will be saved automatically. You’ll see some feedback on the right-hand side of the screen, including text and videos to help guide you in the writing process. When you’re ready, you can turn in your assignment by clicking Submit at the bottom of the page.

Click the assignment link to start your assignment in ecree. Please note that ecree works best in Firefox and Chrome.

This course requires the use of Strayer Writing Standards. For assistance and information, please refer to the Strayer Writing Standards link in the left-hand menu of your course.

In addition to your textbook, you have access to Nexus Uni through the Strayer University Library. Please take advantage of this excellent legal resource!

The specific course learning outcome associated with this assignment is:

· Determine if a plaintiff can make legal claims based on the events in a given scenario.