Answer: 1. No.
2. Yes.
Explanation:
Price Discrimination is a pricing strategy where suppliers/producers or sellers sell a good to different people at different prices depending largely on their preference and/or capacity to pay for the commodity i.e, if you want it more, you are charged more.
1. Johnny did not like to play Hopscotch, so offering Suzie one day of Hopscotch for two days of bug hunting is fair and no price discrimination occured as he did not offer these terms to someone else who's game he did not like.
2. Sam knew that Johnny really liked playing Slaps so he leveraged on that and offered him more expensive terms so to speak than he did to Bill even though he liked playing the both games equally. This means that he charged Johnny more than Bill simply because Johnny liked and preferred his game alot which is Price discrimination.
Answer:
Explanation:
Scholarships and grants are monies that are given to the student for education. You DO NOT have to pay them back.
Loans can also be given for education costs but you DO have to pay them back. So, obviously, you want scholarships and grants before loans.
<span>Budgeting ...Accounting. ...Marketing. ...Sales. ...Hiring Employees. ...Customer Service. Maybe!</span>
Answer:the quantities of some factors of production are fixed; the quantities of all factors of production can be varied - D
Explanation:
In the short run, some factors of production are fixed, which is usually the capital. Therefore for a company to increase output, it would need employ more workers, but would not increase capital.
Therefore in the short run, we can get diminishing marginal returns, which may cause marginal costs to start increasing quickly.
Also, in the short run, prices and wages fall out of equilibrium because a sudden rise in demand may lead to higher prices, and companies may not have the the capacity to respond and increase supply.
Long run
In the long run, usually greater than 6 months, all main factors of production are variable. The company has time to build a bigger one making it respond to changes in demand which means that a sudden rise in demand, would have a complimentary increase in supply to meet the demands and prices can be adjusted.
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