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studymite studymite
wrote...
Posts: 491
5 years ago

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
Textbook 
Microeconomics

Microeconomics


Edition: 7th
Authors:
Read 61 times
1 Reply
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Answer verified by a subject expert
jfinn1021jfinn1021
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Posts: 388
5 years ago
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