Price Discrimination Is More Likely in the Case of Services

question 208

Multiple Choice

Price discrimination is more likely in the case of services than in the case of goods because

• A) producers of goods usually do not face downward sloping demand curves.
• B) it is easier to distinguish customers with different elasticities of demand with respect to services than with goods.
• C) elasticities of demand vary more with services than with goods.
• D) it is more difficult to resell services.

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Definitions:

Pain-Control Medication

Drugs or substances used to reduce or alleviate acute or chronic pain.

Faith Factor

Faith Factor refers to the potential impact of religious beliefs and practices on an individual's health and well-being, suggesting a correlation between faith and improved physical or mental health outcomes.

Mindfulness Meditation

A method of meditation that emphasizes deep consciousness of one's current sensations and emotions, without adding interpretation or making judgments.

External Locus

The belief that one's fate or outcomes in life are determined by external forces or the environment.