Price Discrimination Is Often Used by Businesses

question 116

Essay

Price discrimination is often used by businesses. Explain the three conditions under which price discrimination is practiced.

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Definitions:

Lewis Structure

A Lewis structure is a diagrammatic representation of the arrangement of valence electrons around atoms in molecules, indicating the bonding between atoms as well as the lone pairs of electrons.

Ethyne

A colorless gas with a sharp, distinct odor; the simplest alkyne, it is a hydrocarbon with the formula C2H2.

Acetylene

A hydrocarbon and the simplest alkyne, used as a fuel and a chemical building block, recognized by its formula C2H2.

Covalently Bonded Molecule

A molecule whose atoms are held together by covalent bonds, which involve the sharing of electron pairs between atoms.