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Question
Selective private colleges advertise high tuition rates, but have the flexibility to discount the tuition for each student on an individual basis. This type of near-perfect price discrimination practiced in the real world is most similar to that which occurs in a
a. movie theater.
b. restaurant chain.
c. jewelry store.
d. nightclub.
e. retail store.
Answer
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Related questions
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Price gouging laws will usually result in ________ the product in the distressed market.
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Q:
The economic entity most likely to engage in price gouging is
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Q:
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What will an individual do differently as a buyer in the black market in the long run?
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Q:
What is the long-run consequence of a price ceiling law?
a. A surplus will continue to exist and will grow larger over time.
b. A surplus will continue to exist and will grow smaller over time.
c. A shortage will continue to exist and will grow larger over time.
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Q:
Suppose Solomon lives in a community with no price controls. What do you expect will happen if his town borders a community where there is a binding price ceiling on most products?
a. Prices in the legal market in the community with a binding price ceiling will rise.
b. Prices in the legal market in the community with a binding price ceiling will fall.
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b. The binding price ceiling will discourage patients from obtaining the drugs they need.
c. The binding price ceiling will increase the likelihood that consumers will obtain needed drugs on the black market.
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Q:
One strategy someone might use to be elected mayor of a university town is to place a binding price ceiling on rent for student apartments. What will happen if he or she gets elected and is able to pass such a law?
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Q:
Suppose Kate lives in a community with no price controls. What could she expect will happen if her town borders a community where there is a nonbinding price ceiling on most products?
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Q:
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Q:
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Q:
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Q:
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Q:
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