Question 1.
a) Define price discrimination.
b) What conditions are required for price discrimination to occur?
c) Is your workplace a price discriminator? If so, how is this price discrimination accomplished? If not, please provide an example of a private-sector for-profit business that practices prices discrimination and explain how this discrimination is accomplished.
Question 2.
a) Review the four arguments nations cite as justifications for trade barriers. Gerber discusses those arguments in Chapter 7 of International Economics. Which one of those four arguments would be the best justification for erecting trade restrictions to protect the industry that your workplace operates in?
Please note: If your workplace is not a for-profit, private sector firm, then choose a for-profit, private sector firm to use in answering this DQ.
Hint: Be careful you do not confuse an industry with a firm, such as your workplace. An industry is comprised firms; for example, Ford is a firm that operates in the automobile industry.
b) How did you determine the best justification for erecting trade barrier for the industry your workplace operates in?
Question 3. Analyze the relationship among technology advancement, research &development, economic efficiency, and market structure. Please provide your professional experience examples.