What is meant by price discrimination? What are the conditions to make price discrimination effective? Discuss your answers with examples from the Airline Industry.

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What is meant by price discrimination? What are the conditions to make
price discrimination effective? Discuss your answers with examples
from the Airline Industry.

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A consumer consumes two agricultural products: Red Meat, and Tomatoes according to the following utility function: U = RT Write down the budget constraint (budget line equation) for this consumer. Determine the quantities that the consumer should consume of each of the two products. Calculate the value of the lagrangian multiplier. Derive the demand function for Red Meat. Derive the demand function for Tomatoes.
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Consider a consumer who is choosing how many of two goods to buy: Footballs and cricket balls. The consumer has an income of $20, and the cost of a football is $4 and a cricket ball is $2. (a) Write down the equation for the consumer’s budget constraint and graph it.(b) The government decides that football is evil and needs to be taxed. They introduce a 50% tax on each football sold. Rewrite and re-graph the budget constraint.(c) A new government is elected that hates all sports. They now tax both footballs and cricket balls at 50%. What does the budget constraint look like now?