Place each price discrimination scenario in the appropriate category. Perfect price discrimination Pandy Jewelry charges each customer the maximum he or she is willing to pay for a particular piece of jewelry. Second-degree price discrimination Art's Mac-n-Cheese sells for $0.99 at the Piggly Wiggly, but Bulky Warehouse sells a package of 12 boxes for $10. Third-degree price discrimination Hungry Hungry Buffet charges $4.99 for kid's meals and $12.99 for adult meals. Totally Teeth, a toothbrush retail store, sells toothbrushes for $4.00 each, $7.00 for a two-pack, and $13.00 for a four-pack. Not price discrimination

Place each price discrimination scenario in the appropriate category. Perfect price discrimination Pandy Jewelry charges each customer the maximum he or she is willing to pay for a particular piece of jewelry. Second-degree price discrimination Art's Mac-n-Cheese sells for $0.99 at the Piggly Wiggly, but Bulky Warehouse sells a package of 12 boxes for $10. Third-degree price discrimination Hungry Hungry Buffet charges $4.99 for kid's meals and $12.99 for adult meals. Totally Teeth, a toothbrush retail store, sells toothbrushes for $4.00 each, $7.00 for a two-pack, and $13.00 for a four-pack. Not price discrimination

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Hello could you please answer this ? If the price of a room at the Exhilaration were to decrease by 10%, from $250 to $225, while all other demand factors remain at their inital values, the quantiy of rooms demanded at the Triple Sevens (Rises/Falls) from___rooms per night to ___rooms per night. Because the cross price elasticity of demand is (Positive/Negative), hotel rooms at the Triple Sevens and hotel rooms at Exhilaration are (Complements/Substitute)
I pretty sure I got the first part right. I am struggling with bottom parts.
why do you think brand-named goods are more elastic or less elastic than categories, especially when there are very good substitutes for Exxon gasoline available at close distances?
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