Multiple Choice
Which of the following is a plausible reason that restaurants offer "Senior Citizen Discounts"?
A) Senior citizens tend to have elastic demands for restaurant meals.
B) Senior citizens tend to have inelastic demands for restaurant meals.
C) Senior citizens are not very sensitive to changes in price.
D) Senior citizens are easily fooled by "come-ons" and are therefore frequently victims of price discrimination.
Correct Answer:
Verified
Correct Answer:
Verified
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