When Firms Price-Discriminate,people with _____ Price Elasticity of Demand Will

question 304

Multiple Choice

When firms price-discriminate,people with _____ price elasticity of demand will pay _____ prices relative to those purchasing the same product who have a _____ price elasticity of demand.

• A)higher;higher;lower
• B)lower;lower;higher
• C)lower;higher;higher
• D)higher;the same;lower

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Definitions:

Accounts Payable Turnover

A financial metric that measures how fast a business pays its suppliers, calculated by dividing the total purchases by the average accounts payable during a period.

Cash Cycle

It refers to the time period between the disbursement of cash and the collection of receivables in a company's operational cycle.

Credit Sales

Sales made by a business where payment is delayed, often part of a strategy to increase sales by offering customers flexibility.

COGS

The cost of goods sold; it represents the direct costs attributable to the production of goods sold in a company.