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Homework answers / question archive / use the information in the article to answer the following questions

use the information in the article to answer the following questions

Economics

use the information in the article to answer the following questions. "There's more to the price than what you see on the sticker." He says retailers should not be blamed simply because they're on the front line. and the retail industry is so competitive that it makes no financial sense for merchants to price gouge. Consumers would vote with their wallets and the store would go out of business. The New York study is not the only evidence of a pink tax In 2010. Consumer Reports surveyed drugstore products and found the women's versions of the same product might cost up to 50% more than the mer's. A California study in the 90's found gender-based pricing cost women more than $1,300 extra each year. In Britain, the issue has been raised in Parliament after an investigation by The Times found women could be paying up to twice as much as men for what appeared to be identical products. There is no federal law in the U.S. against charging more for products or services based on gender, but there are state and city laws. In 1995, California became the first state to ban gender-based price differences for services like hair salons and dry cleaners. New York City brought in a similar law in 1998, banning gender-based pricing and requiring business owners to explain any differences in prices that appear to be based on gender. Fines start at $250 for a first offense. The city issued 129 violations to businesses in 2015. Cone says bringing about change will take a grassroots effort. He just purchased the domain name www.pink.tax which he says will serve as a portal for people to find and share information about gender-based pricing In the meantime, I'm off to buy a blue razor. Why women pay more than men for the same stuff Clare Sebastian CNNMoney March 07, 2016 2016 Turner Broadcast Systems. All rights reserved. Used by permission and protected by the Copyright Laws of the United States. The printing, copying, redistribution, or 1st attempt Part 1 (1 point) See Hint There is not a federal law that prohibits firms from charging females more than males for the same products or services. However, there are state and city laws that do this. In 1995, became the first state to make it illegal for firms to charge different prices to men and women for services such as those provided by hair salons and dry cleaners See Hint Part 2 (1 point) In 1998, New York City implemented a law that required firms with gender-based price differences to explain why those price differences existed. In 2015, the city issued violations of this law.
To price-discriminate, a firm should charge a higher price to customers with demand as compared to other consumers of this good. more elastic more inelastic the same For a firm to succeed in charging different prices to different types of consume elasticity of balso as a failure to do so would result in a loss of profits.
To price-discriminate, a firm should charge a higher price to customers with of this good. demand as compared to other consumers as a failure to do so For a firm to succeed in charging different prices to different types of consumers, it needs to also would result in a loss of profits. advertise heavily prevent resale search for cheaper production methods

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