Versioning Is a Form of _____ Price Discrimination Because _____

question 142

Multiple Choice

Versioning is a form of _____ price discrimination because _____.

• A) first-degree; the firm can identify its customers' types of demand curves before they buy, allowing the firm to select the profit-maximizing version of the product
• B) second-degree; the firm cannot identify its customers' types of demand curves before they buy, so the firm produces various versions of the product in hopes that customers will self-select the appropriate product
• C) perfect; each customer buys a unique version of the product that is priced to eliminate all consumer surplus
• D) third-degree; the firm can directly determine which customers should buy which version of the product before the sale is made

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Definitions:

Unison

involves acting or speaking simultaneously or in agreement, exhibiting a unified or harmonious conformity.

Happenstance

An event or occurrence that happens by chance, without apparent cause.

Nominal Group Session

A structured form of group meeting aiming to generate ideas or make decisions, where each member participates equally.

Round-Robin

A strategy or method involving a sequence or rotation where each participant takes part in an activity in turn.