To Engage in Price Discrimination,a Firm Must Be

question 97

Multiple Choice

To engage in price discrimination,a firm must be:

• A)a price taker.
• B)one of many firms in an industry.
• C)unable to identify consumers whose elasticities differ.
• D)a price setter and able to identify consumers whose elasticities differ.

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Definitions:

Buying and Selling

The basic components of commerce, where goods or services are purchased by buyers from sellers in exchange for money.

Consumers

Individuals or groups who are the final users of products and services produced within an economic system.

Web Portal

An Internet site whose purpose is to be a major starting point for users when they connect to the web.

Supply Chain

The network of all the individuals, organizations, resources, activities, and technology involved in the creation and sale of a product, from the delivery of raw material from the supplier to the final delivery to the end customer.