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Economics
IB

Under what conditions can a firm sell the same product at different prices?

Firms practice price discrimination when firms sell the same product at different prices. Price discrimination involves charging higher prices to less price sensitive consumer and lower prices to more pri...

Answered by Modupeola A. Economics tutor
19067 Views

What is structural unemployment and how can government intervention affect the level of structural unemployment?

Structural unemployment is the permanent decrease of elimination of a specific kind of job within a 'sunset' industry, an industry that is becoming obsolete because consumers are no longer demanding this...

Answered by Victoria L. Economics tutor
6276 Views

Under what conditions can a firm sell the same product at different prices?

This is a clear example of price discrimination, which can be defined as when sales of identical goods or services are transacted at different prices from the same provider. This would not exist in monopo...

Answered by Anita T. Economics tutor
2220 Views

Evaluate the impact of a price ceiling

A price ceiling is defined as a maximum price for a good set below the market equilibrium price, typically to protect the consumers of that specific good. Rent controls in the housing market are an exampl...

Answered by Ludovic A. Economics tutor
11041 Views

What is the key difference between the Keynsian and the Neo-Classical schools of thought? Explain using a diagram.

The Neo-Classical school of thought is built under the assumption of prices being flexible in both directions(upwards or downwards). On the other hand, Keynes suggested that wages are inflexible downwards...

Answered by George M. Economics tutor
4793 Views

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