With No Price Discrimination,​

question 58

Multiple Choice

With no price discrimination,​

• A)​A firm sells every unit at different prices
• B)A firm sells every unit at same prices
• C)Low-value groups pay a lower price than the high-value groups
• D)​Low-value groups pay a higher price than the high-value groups

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Definitions:

Private Goods

Goods that are rivalrous and excludable, meaning consumption by one person diminishes availability for others, and access can be restricted.

Inelastic Demand

A market situation where the demand for a product does not change significantly with a change in price.

Pareto Efficient

A condition of resource allocation in which making one person better off necessitates making another person worse off.

Net Benefit

The total benefits of a decision or action, subtracting any associated costs, reflecting the overall value or payoff.