Which of the Following Statements About the Practice of Price

question 14

Multiple Choice

Which of the following statements about the practice of price discrimination is true?

• A)Firms can easily identify different groups' willingness to pay, so price discrimination is prevalent in every market.
• B)Price discrimination is practiced less today than it was in the mid-1900s.
• C)Perfect price discrimination is impossible.
• D)Price discrimination has only been observed in markets where monopolies are present.

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Definitions:

Invoice Paid

A document or bill that has been settled or paid in full.

Credit Card Discount

A fee charged by credit card processors to merchants for accepting credit card payments, often a percentage of the transaction value.

Net Sales

Revenue from sales minus returns, allowances, and discounts.

Net Income

The residual financial gain of a company post all expenses and taxes being deducted from the revenue.