Question: Question 3 a) In the Sunday newspaper, there are usually coupons that you can clip and take to th…

30 Apr Question: Question 3 a) In the Sunday newspaper, there are usually coupons that you can clip and take to th…

Posted at 23:01h in 2Past Paper by Exams

Question 3 a) In the Sunday newspaper, there are usually coupons that you can clip and take to the store to save money on products. Anyone can buy a newspaper, and the value of the coupons easily exceeds the price of the newspaper for most consumers. Is this an example of price discrimination? Explain. (5 marks) b) Differentiate between second degree and third degree price discrimination. Support (7 marks) your answer with suitable examples. c) George’s Pants Store sells a particular brand of slacks. It recently decreased the price of a popular brand by 5 percent. The decrease was followed by a 20 percent increase in sales. The marginal cost of producing these slacks is RM100 i. What is the point price elasticity of demand for these slacks? ii. What would be the optimal markup and price of these items? (5 marks) (8 marks)

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