Which of the Following Conditions Does Not Need to Be

question 165

Multiple Choice

Which of the following conditions does not need to be satisfied in order to practice price discrimination?

• A)a perfectly elastic demand curve
• B)a negatively-sloped demand curve for the firm's output
• C)the ability to identify customers who are willing to pay more for the good
• D)the ability to identify customers who are not willing to pay more
• E)the ability to prevent resale of the good

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Definitions:

Opening Balance Equity

An account used in accounting software to offset discrepancies when establishing opening balances during the initial setup of the financial records.

Accounts Receivable

Money owed to a business by its customers for goods or services delivered but not yet paid for, considered an asset on the balance sheet.

Supplies On Hand

The inventory of materials and goods currently available in a business for use or sale.

Adjustment

A process of altering financial records or accounts to correct any discrepancies or errors.