Suppose a museum charges different entrance fees for children, students, adults, and seniors, but these groups all pay the same amount for souvenirs at the gift shop. Which of the following explains why the museum price discriminates on admission but not souvenirs? O The museum has not yet realized the potential gain from price discrimination on souvenirs. O The entrance ticket is individual, while souvenirs are transferable. O There is much greater variance in cost among souvenirs than entrance tickets. O The museum collects much more revenue on entrance tickets than on Couvenirs

Suppose a museum charges different entrance fees for children, students, adults, and seniors, but these groups all pay the same amount for souvenirs at the gift shop. Which of the following explains why the museum price discriminates on admission but not souvenirs? O The museum has not yet realized the potential gain from price discrimination on souvenirs. O The entrance ticket is individual, while souvenirs are transferable. O There is much greater variance in cost among souvenirs than entrance tickets. O The museum collects much more revenue on entrance tickets than on Couvenirs

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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