Price Discrimination Is the Practice of Charging a Higher Price

question 128

True/False

Price discrimination is the practice of charging a higher price for the same product or service when demand approaches the physical limit of the capacity to produce that product or service.

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Definitions:

Reconstruction Amendments

Amendments to the United States Constitution (the 13th, 14th, and 15th Amendments) passed after the Civil War to abolish slavery and establish civil and voting rights for Black Americans.

Constitutional Revolution

A significant change in the governing constitution of a country, often involving the establishment of new rights and forms of governance.

Federal Government

The national government of a federation, which holds the authority to govern a country and regulates the common interests of its constituent states or provinces.

Radical Reconstruction

The period after the American Civil War when the Republican Party implemented measures to rebuild and reform the Southern states, including granting civil rights to freed slaves.