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Question 1.

If price discrimination occurs in a market,

• the law of one price does not hold.

• the firm earns arbitrage profits.

• consumers whose demand for the product sold is more elastic pay higher prices than consumers whose demand is less elastic.

• the marginal cost of production is constant.

Question 2.

Big data is often used to establish pricing strategies for automobile insurance companies.

• true

• false
Source  Download
Microeconomics
Edition: 7th
Authors:
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wrote...
Posts: 179
2 months ago
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Answer 1

the law of one price does not hold.

Answer 2

true
1
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