Tackle the Test: Free-Response Questions

636

  1. Question

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    Rubric for FRQ 1 (5 points)

    1 point: Price discrimination is the practice of charging different prices to different customers for the same product.

    1 point: Firms price-discriminate to increase their profit.

    1 point: In order to price-discriminate, firms must be in the monopoly, oligopoly, or monopolistic competition market structure.

    1 point: Because rather than being price-takers, firms in these market structures have some degree of market power, which gives them the ability to charge more than one price.

    1 point: An example is different prices for movie tickets charged for people of different ages.

    (6 points)

  2. Question

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