The following scenarios provide examples of the various degr…
The following scenarios provide examples of the various degrees of price discrimination related to the University of Notre Dame: Scenario 1: After the final exam schedule is released, students are able to determine when to book their flights home for the summer break. Airfares for students that purchase their tickets to a particular location on March 1st are lower than airfares for students that purchase their tickets on May 1st. Scenario 2: Notre Dame’s tuition and fees are $57, 699 (2020 – 2021). However, individual students often pay different prices as a result of financial aid. Scenario 3: To join Notre Dame’s Sorin Society, members must make annual lump-sum contributions to the university and they receive numerous benefits as a result. One benefit is the ability to purchase tickets to attend exclusive dinners at the Morris Inn after Notre Dame home football games. Members pay a price for each dinner they attend in addition to an annual fee of $1,500. The more dinners member attend, the more the annual fee is spread out over the dinners. Identify the degree of price discrimination for each of the aforementioned examples.