Price Discrimination Refers to a System of Pricing

question 74

Multiple Choice

Price discrimination refers to a system of pricing

• A) based on buyer income rather than buyer demand conditions, so the poor pay more than the rich.
• B) that is always more profitable than simple "single-price" pricing.
• C) that forces customers who require more service to pay higher prices.
• D) where consumer groups with a more elastic demand for the product are charged lower prices.

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Definitions:

Amygdala

A section of the brain that is responsible for detecting fear and preparing for emergency events.

Hypothalamus

A region of the brain below the thalamus that coordinates both the autonomic nervous system and the activity of the pituitary, controlling body temperature, thirst, hunger, and other homeostatic systems.

Cerebellum

A major feature of the hindbrain of all vertebrates responsible for motor control, and possibly also some cognitive functions.

Acquired Reflexes

Learned reflex actions that develop as a result of repeated exposure to a stimulus, differing from innate reflexes present at birth.