Problem
1. Colleges give financial aid to certain students. Is this price discrimination? If so, should it be against the law?
2. A best-selling horror book, Duma Key by Stephen King, was sold in hardback for $28 when it was first released. One year later, the publisher issued a soft-cover edition for $9.99. What accounts for the difference in price?
3. Does the product differentiation in monopolistic competition make us better or worse off? Why?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.