Examlex
Which of the following is not an example of price discrimination?
A.College students receive a discount at the ice cream store when they show their college ID cards.
B.Ladies receive free admission into a nightclub, while men must pay a cover charge.
C.A country club requires members to pay annual dues, but members receive discounted prices to golf.
D.Street vendors increase the price of umbrellas when it is raining.
Unimpeded Entry
A market condition where there are no barriers for new firms to enter and compete in the industry.
Purely Competitive Firm
A company that operates in a market where there are many buyers and sellers, none of which can influence market prices significantly.
Long Run
A period of time during which all factors of production and costs are variable, in contrast to the short run where some are fixed.
Market Supply
The total amount of a product or service that is available to consumers, determined by the sum of all individual suppliers' outputs in the market.
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