Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

A. X college charges $20k per semester for tuition, room, and board. But most students receive scholarships and the scholarships vary between $,1000 and $20,000.

A. X college charges $20k per semester for tuition, room, and board. But most students receive scholarships and the scholarships vary between $,1000 and $20,000. The amount of the scholarship offered is based upon the student's academic merit and their family's financial status. This is an example of what ?

1 - First degree price discrimination

2 - 2nd degree price discrimination

3 - 3rd degree price discrimination

4 - Peak load pricing

B. Tommy runs a food truck where he sells burgers. If you buy 1 burger, you pay $3.00 Tommy charges $2/piece if you buy a second, third, or fourth hot dog. (so you pay $9 for 4 burgers). He then charges $1.50/piece for the 5th through tenth burgers. (So you pay $12 for six burgers and $15 for 8 burgers). This is an example of what :

1 - first degree discrimination

2 - second degree discrimination

3 - third degree discrimination

4 - Block pricing is not a type of price discrimination

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Environmental And Natural Resource Economics International Edition

Authors: Thomas H Tietenberg, Lynne Lewis

10th Edition

1292060794, 9781292060798

Students also viewed these Economics questions

Question

How does visua lization w ork? (p. 2 80)

Answered: 1 week ago

Question

gpt 4 7 9 .

Answered: 1 week ago