Which of the Following Is Considered a Necessary Condition for Successful

question 9

Multiple Choice

Which of the following is considered a necessary condition for successful price discrimination?

• A)A firm's customers must all have the same price elasticity of demand.
• B)Firms are able to prevent resale among different groups of customers.
• C)Firms must be able to determine each customer's maximum willingness to pay for the product in question.
• D)Firms must operate in a perfectly competitive market.

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Definitions:

Insured

An individual or entity covered by an insurance policy, providing protection against specified risks or losses.

Insurable Interest

A requirement that a person seeking to take out an insurance policy on something or someone must have a vested interest that would result in financial loss if the insured event occurs.

Property Insurance Policy

A contract that provides financial reimbursement to the owner or renter of a structure and its contents in case of damage or theft.

Time Of Loss

Refers to the specific date and time an event occurred which results in an insurance claim.