(Consider This) Children Are Charged Less Than Adults for Admission

question 110

Multiple Choice

(Consider This) Children are charged less than adults for admission to professional baseball games but are charged the same prices as adults at the concession stands.Which of the following conditions of price discrimination explains why this occurs?

• A)The seller must have some monopoly power; that is, it must be able to set the product price.
• B)The seller must be able to identify buyers by group characteristics such as age or income.
• C)Groups must have different elasticities of demand for the product.
• D)The items can be bought by people in the low-price group and transferred to members of the high-price group.

---

Definitions:

Export Demand

The desire and willingness of foreign consumers and businesses to purchase goods and services produced in another country.

American Agriculture

Farming practices and industry in the United States, characterized by advanced technology, large-scale operations, and significant global exports.

International Value

The worth of a product or service recognized across different countries, taking into account exchange rates and global demand.

Price Support

Government or regulatory interventions to maintain the price of a commodity at a certain level to protect producers from market fluctuations.