Three Necessary Conditions Must Be Met Before a Seller Can

question 5

Multiple Choice

Three necessary conditions must be met before a seller can practice third-degree price discrimination.The conditions are: buyers must be separated into groups or submarkets according to their elasticities of demand,the seller must possess some degree of monopoly power,and

• A) the seller must prevent transfer of sales between the groups or submarkets.
• B) the seller must have "market dominance".
• C) the buyer must have profit maximization as a goal.
• D) the buyer must have variable costs that have to be recovered.

---

Definitions:

Trustworthiness

The quality of being reliable, honest, and dependable, crucial in establishing confidence in relationships, including those between patients and healthcare providers.

Feedback

Process in which the output of a given system is returned to the system.

Interpersonal Communication

The process of exchange of information, feelings, and meanings between two or more people through verbal and/or non-verbal methods.

How Are You Doing

A common greeting or inquiry into one's well-being.