What is the difference between 1st, 2nd and 3rd-degree price discrimination?
1st-degree price discrimination is when the firm captures all of the consumer surplus by setting the maximum price per unit. 2nd-degree price discrimination is when the firm charges different prices for different quantities based on the consumers' willingness to pay. 3rd-degree price discrimination is when the firm charges different prices to different consumer segments.
What is the importance of linearity in the parameters of the regression function?
Regardless of the linearity of the variables in the function, if the parameters are linear then the function is a linear regression.
What is a SWOT analysis?
A SWOT analysis is a framework/planning process that evaluates the strengths, weaknesses, opportunities and threats for an organization.