Price Discrimination Is Prevented in Situations Where

question 91

Multiple Choice

Price discrimination is prevented in situations where

• A) firms have monopolies.
• B) customers can resell the good.
• C) customers have different willingness to pay for the good.
• D) there are no close substitutes for the good or service.
• E) there are legal barriers to entry.

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Definitions:

Mid-Ocean Ridge

An underwater mountain range, formed by plate tectonics, that encircles the globe.

Oceanic Trench

Deep and narrow depressions in the ocean floor, formed by the subduction of one tectonic plate under another.

Mountain Belt

A series of mountain ranges connected over a large area, formed through processes like tectonic plate collision and volcanic activity.

Island Arc

A curved series of volcanic islands located at a tectonic plate boundary, typically formed above a subducting plate.