In Order for Price Discrimination to Be Successful

question 47

Multiple Choice

In order for price discrimination to be successful:

• A)there must be a strong case for arbitrage.
• B)markets must be kept separate.
• C)demand must be very elastic.
• D)a large change in demand must be triggered by a small change in price.

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Definitions:

Appraiser's Evaluation

An assessment or estimation of the value of a property or item, conducted by a qualified appraiser.

Substandard

Falling below the usual or required standard, often used to describe products or services that do not meet the expected level of quality.

Lapse of Time

The expiration of a period specified by statute, contract, or agreement after which legal rights may no longer be enforced or claims made.

Substantially More Burdensome

A term referring to contract modifications or conditions that significantly increase the obligations of one party beyond what was initially agreed upon.