1. A third-degree price-discriminating pure monopoly will follow a system where _____.

Buyers with relatively more inelastic demands are charged higher prices than buyers with relatively more elastic demands

The price of the product is held the same even if the demand changes

All buyers are charged the same price regardless of their elasticity of demand

Buyers with relatively more inelastic demands are charged lower prices than buyers with relatively more elastic demands

2. The local pizza place sells 1 large pizza for $7.99 or 2 large pizzas for $11.99. The pizza joint is engaging in _____.

First-degree price discrimination

Regular price discrimination

Second-degree price discrimination

Third-degree price discrimination

3. If a third-degree price-discriminating pure monopoly sells the same product in two markets but charges a higher price in market X and a lower price in market Y, the pricing difference indicates that demand is _____.

Relatively more elastic in market X than market Y

Relatively less elastic in market Y than market X

The same in both market X and Y

Relatively less elastic in market X than market Y

4. Chipotle offered free burritos to celebrate teachers. What type of price discrimination does this demonstrate?

It is not price discrimination.

Third-degree price discrimination.

First-degree price discrimination.

Second-degree price discrimination.