Which of the Following Conditions Must Exist for a Firm

question 54

Multiple Choice

Which of the following conditions must exist for a firm to practice price discrimination?

• A) Consumer surplus must be zero.
• B) There is only one firm in the market.
• C) The good cannot be resold easily at a price lower than the market price.
• D) The cost of production must be different for goods sold in different markets.
• E) Consumers must have product loyalty.

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Definitions:

Potential Pitfalls

Refers to possible dangers or problems that might not be obvious at first and could hinder success.

Technical Skills

Competencies and knowledge required to perform specific tasks, often related to IT, engineering, or other specialized fields, involving practical expertise.

Human Development

The process of improving people's well-being through education, health care, and access to opportunities.

Career Advancement

The process of gaining higher level positions, increased responsibility, and better compensation within one's profession over time.