Which of the Following Is Not a Necessary Condition for Effective

question 45

Multiple Choice

Which of the following is not a necessary condition for effective price discrimination?

• A) The firm must face a downward-sloping demand curve.
• B) There must be at least two distinguishable groups of consumers.
• C) The producer must be a pure monopolist.
• D) The seller must be able to prohibit buyers from easily reselling the product to other potential buyers.

Understand the presentation and emphasis mechanisms in tables, including the indication of missing data.

Identify the proper placement of visuals in a document for effective communication.

Understand the elements and construction of different types of visuals, such as tables and area charts.

Recognize and avoid common errors in graphing data.

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Definitions:

Labor-supply Curve

A graphical representation showing the relationship between the wage rate and the quantity of labor workers are willing to supply.

Elasticity Positive

Positive elasticity indicates that when the price of a good or service increases, the quantity demanded increases, or vice versa, showing a direct relationship between price and demand.

Income Elasticity

The responsiveness of the demand for a good to a change in an individual’s income.

Normal Good

A type of good for which demand increases as the income of the consumer increases, showing a positive correlation between income and demand.