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The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
Edition 13ISBN: 9780132992695The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
Edition 13ISBN: 9780132992695 Exercise 21
You and your fiancée are shopping for wedding rings. After showing you a sample of his wares, the jeweller asks, "What price did you have in mind?"
(a) Why does he ask this question?
(b) If you tell him you don't plan to spend more than $200 on each ring, are you helping him find the rings to sell you or the price to charge for the rings you prefer?
(c) What might be a good technique for finding out the lowest price at which the jeweler is willing to sell the rings you like?
(a) Why does he ask this question?
(b) If you tell him you don't plan to spend more than $200 on each ring, are you helping him find the rings to sell you or the price to charge for the rings you prefer?
(c) What might be a good technique for finding out the lowest price at which the jeweler is willing to sell the rings you like?
Explanation
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Price discrimination: This is an act of ...
The Economic Way of Thinking 13th Edition by David Prychitko, Peter Boettke, Paul Heyne
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