Which of the Following Must a Firm Be Able to Do

question 358

Multiple Choice

Which of the following must a firm be able to do to successfully price discriminate?
i.divide buyers into different groups according to their willingness to pay
ii.prevent resale of the good or service
iii.identify into which group (high willingness to pay or low willingness to pay) a buyer falls

• A) ii only
• B) i and ii
• C) i and iii
• D) iii only
• E) i, ii, and iii

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Definitions:

Minors

Persons under the age of majority; also known as infants.

Businesspeople

Individuals engaged in commercial, industrial, or professional activities, often with the aim of generating profits.

Age of Majority

The legally defined age at which an individual is considered an adult and is responsible for his or her actions and decisions.

Law of Infants

Legal provisions and protections specifically related to the rights and well-being of minors.