Price Discrimination Means

question 148

Multiple Choice

Price discrimination means

• A)charging different prices for identical goods that have identical production costs.
• B)paying wages according to race or sex rather than productivity.
• C)exploiting the working masses by charging the highest single price possible.
• D)eliminating all costs so that only profits are realized.

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Definitions:

Domestic Quantity Demanded

The total amount of a product or service that consumers in a particular country are willing and able to purchase at a given price.

World Price

The international market price of a good or service, determined by global supply and demand dynamics.

Hypothetical Nations

Imaginary or theoretical countries used for academic or policy analysis purposes.

Domestic Quantity Supplied

The total amount of a good that producers within a country are willing and able to sell at a given price level.