Price Discrimination Is Covered by the Competition Act and Exists

question 2

Multiple Choice

Price discrimination is covered by the Competition Act and exists when certain conditions can be proven.Which of the following would not be one such condition?

• A)a discount, rebate, allowance, price concession, or other advantage was granted to one customer and not to another
• B)the price discrimination occurred in respect of articles of similar quality and quantity
• C)customer feels you are not providing quick enough service and finds it difficult to contact you
• D)the customers are competitors
• E)you offer such a unique product that it may be classified as a monopoly

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Definitions:

Rawlsian Social Welfare Function

A concept based on John Rawls' theory of justice, prioritizing the well-being of the least advantaged members of society in the allocation of resources.

Utility

In economics, utility is a measure of the satisfaction or happiness that a consumer derives from consuming goods and services.

Mayor

An elected official who acts as the head of a city, town, or municipality, responsible for implementing and overseeing local government policies and functions.

Social Welfare

The well-being of a community in terms of health, prosperity, and happiness, often considered in economics and social policy decision-making.