Answer: more elastic in their demand for tickets
Explanation:
Third-degree price discrimination is used by company when different price is being charged to a particular group of consumers.
Based on the scenario in the question, the owner of the concert hall should price tickets lower for customers who are more elastic in their demand for tickets.
Elastic demand simply means that a little change in the price of the concert hall will lead to a higher change in the quantity demanded. In this case, when the price increases, such people will buy little tickets. Therefore, the prices should be set lower for these set of people as there will be a huge increase in demand when the price is lower.
Answer:
quantitative measurements of the nation's economic activity from last quarter
Answer: equilibrium price is $30
Explanation: price decreased steadily at $10 and demand increased by $40(the lower the price the higher the demand) while supply decreased by $60(the lower the price the lower the supply) From the table equilibrium price equal $30 where demand equal supply at 220 units.
Answer:
B. False
Explanation:
This is false, as sales rebate is a different concept. The named contract is a <em>quantity flexibility contract</em>. Rebate is the discount which a buyer receives when buying a larger amount of goods. Rebate is determined by the contribution margin, as it has to be maintained to remain feasible for the seller.
