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Q1. If the price of prunes associative to the price of plums fell, what could you infer regarding the interest rate?

Q2. Is human life precious? What evidence can you propose to support your contention?

Q3. Except for the promotional purposes and price wars, airfare rates to Europe are more in the summer than in the winter. Coach class airfare from Philadelphia to Los Angeles is not expensive than coach class airfare to Des Moines. First class airfare is always more than coach class. Furthermore, airlines charge lower fares to those who book seats well ahead of time than those who wait till the last minute. Are these all illustrations of price discrimination? What additional information might be required before you can give a complete answer to this problem? Describe.

Assess: ‘The fact that some of the airplanes collide is evidence there is too little air traffic control’. (Be sure to describe what too little might mean.)

Microeconomics, Economics

  • Category:- Microeconomics
  • Reference No.:- M910136

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