Quiz_162 - 48 ,BART,.This _demandforsubway rides A...

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48) The Bay Area subway system, BART, offers senior citizens discounted fares for BART rides. This suggests that BART authorities believe that senior citizens have a ________ demand for subway rides. A) less income elastic B) more income elastic C) more price elastic D) less price elastic 48) Answer: C Diff: 2 Page Ref: 523/523 Topic: Price Discrimination Learning Outcome: Micro 14: Discuss production and pricing decisions within monopolies and how public policies affect monopolies AACSB: Reflective Thinking 49) An article on how prices in South Bend, Indiana rise during Notre Dame home football games noted: ʺ For the Sept. 16 game against the University of Michigan, the South Bend Marriott is charging $649 a night for a double room . ...... The Marriott ʹ s regular weekend price is $149 a night. ʺ Source: Ilan Brat, ʺ Notre Dame Football Introduces Its Fans To Inflationary Spiral, Wall Street Journal, September 7, 2006, p. A1. Which of the following statements is true? 49) Diff: 2 Page Ref: 523/523 Topic: Price Discrimination Learning Outcome: Micro 14: Discuss production and pricing decisions within monopolies and how public policies affect monopolies AACSB: Reflective Thinking, Ethical Reasoning 50) From an economic perspective, price discrimination is desirable because 50) Diff: 2 Page Ref: 523/523 Topic: Price Discrimination Learning Outcome: Micro 14: Discuss production and pricing decisions within monopolies and how public policies affect monopolies AACSB: Reflective Thinking 14
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