Price Discrimination Exists

question 78

Multiple Choice

Price discrimination exists:

• A)only in perfectly competitive markets.
• B)because sellers try to exploit differences in customers' willingness to pay.
• C)in all industries, regardless of market structure.
• D)only when demand is inelastic.

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Definitions:

Software

Programs that control the processing of data in a system, as contrasted to the physical equipment itself (hardware).

Personal Computer

A small, relatively inexpensive computer designed for individual use, capable of running general-purpose applications and accessing the internet.

Scan Time

The duration a programmable logic controller (PLC) takes to read inputs, execute its program, and update outputs in one complete cycle.

User Program

A set of instructions created and designed by users to be executed by computers or programmable devices.