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Tham khảo tài liệu 'bài tập về kinh tế vĩ mô bằng tiếng anh - chương 11', kinh tế - quản lý, kinh tế học phục vụ nhu cầu học tập, nghiên cứu và làm việc hiệu quả | Chapter 11 Pricing with Market Power CHAPTER 11 PRICING WITH MARKET POWER EXERCISES 1. Price discrimination requires the ability to sort customers and the ability to prevent arbitrage. Explain how the following can function as price discrimination schemes and discuss both sorting and arbitrage a. Requiring airline travelers to spend at least one Saturday night away from home to qualify for a low fare. The requirement of staying over Saturday night separates business travelers who prefer to return for the weekend from tourists who travel on the weekend. Arbitrage is not possible when the ticket specifies the name of the traveler. b. Insisting on delivering cement to buyers and basing prices on buyers locations. By basing prices on the buyer s location customers are sorted by geography. Prices may then include transportation charges. These costs vary from customer to customer. The customer pays for these transportation charges whether delivery is received at the buyer s location or at the cement plant. Since cement is heavy and bulky transportation charges may be large. This pricing strategy leads to based-point-price systems where all cement producers use the same base point and calculate transportation charges from this base point. Individual customers are then quoted the same price. For example in FTC v. Cement Institute 333 U.S. 683 1948 the Court found that sealed bids by eleven companies for a 6 000-barrel government order in 1936 all quoted 3.286854 per barrel. 160 Chapter 11 Pricing with Market Power c. Selling food processors along with coupons that can be sent to the manufacturer to obtain a 10 rebate. Rebate coupons with food processors separate consumers into two groups 1 customers who are less price sensitive i.e. those who have a lower elasticity of demand and do not request the rebate and 2 customers who are more price sensitive i.e. those who have a higher demand elasticity and do request the rebate. The latter group could buy the food processors send
