If a Firm Practices First-Degree Price Discrimination, the Firm Must

question 102

Multiple Choice

If a firm practices first-degree price discrimination, the firm must:

• A) have customers with identical demand curves.
• B) have complete information about each customer's unique demand curve before the customer buys the product.
• C) be able to identify each customer's demand curve after the customer buys the product.
• D) lack market power but know how its customers differ by their willingness to pay for the product.