Which of the Following Is Not a Condition for a Firm

question 48

Multiple Choice

Which of the following is not a condition for a firm to engage in price discrimination?

• A)Consumers are partitioned into two or more types, with one type having a more elastic demand than the other.
• B)The firm has a means of identifying consumer types.
• C)The consumers are assured to be sincere in telling their true natures.
• D)There is no resale market for the good.

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Definitions:

Perception

The process by which the brain organizes and interprets sensory information.

Cognitive Schema

Mental frameworks that help individuals organize and interpret information, influencing perception and understanding of the world.

Proposition

A statement or assertion that expresses a judgment or opinion.

Prototype

An original model on which something is patterned or based.