All of the Following Conditions,except One,must Exist in Order for a Firm

question 194

Multiple Choice

All of the following conditions,except one,must exist in order for a firm to successfully practice price discrimination.Which is the exception?

• A)The firm must be a price taker.
• B)The firm must be able to identify which customers are willing to pay more.
• C)The firm must be able to prevent the resale of its output by low-price customers to high-price customers.
• D)The firm must be able to charge higher prices to some customers without losing their business.
• E)The firm must be a price setter.

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Definitions:

Political Activism

The practice of taking vigorous action, often in support of or opposition to one side of a controversial issue.

Fourteen Points

President Woodrow Wilson’s 1918 plan for peace after World War I; at the Versailles peace conference, however, he failed to incorporate all of the points into the treaty.

Self-Determination

The principle that peoples have the right to freely choose their sovereignty and international political status with no interference.

League of Nations

An international organization established after World War I to promote peace and cooperation among countries, though it ultimately proved ineffective at preventing conflict.