Define Third Degree Price Discrimination and Explain the Two Necessary

question 7

Essay

Define third degree price discrimination and explain the two necessary conditions before it can be practiced? Does this practice fit any one mode more than any other?

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Definitions:

Different Alleles

Variations or alternative forms of a gene that can exist at a single locus (position) on a chromosome.

Dominant Allele

An allele that expresses its phenotypic effect even when heterozygous with a recessive allele; it masks the effect of a recessive allele.

Heterozygous Individuals

Individuals having two different alleles at a particular genetic locus, one inherited from each parent.

Phenotypic Expression

The observable physical and physiological traits of an organism, which result from the interaction between its genetic makeup and environmental influences.