An Example of First-Degree Price Discrimination Would Occur

question 57

Multiple Choice

An example of first-degree price discrimination would occur:

• A)if a sales agent illegally sold a commodity to a federal agent above the competitive market price.
• B)when you sell something illegally to an individual through the mail.
• C)if a car salesman could accurately guess the maximum amount each customer would be willing to pay for a vehicle and charge him/her that price.
• D)when you order 12 of something online and you pay less per unit than if you had bought only one.

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Definitions:

Promoter

A region of DNA that initiates transcription of a particular gene, typically located near the transcription start sites of genes.

Inducer

A molecule that binds to a repressor protein, converting it to its inactive form, which is unable to prevent transcription.

Lactose

A disaccharide sugar found in milk and dairy products, which is broken down into glucose and galactose by the enzyme lactase.

Lac Operon

A set of genes and their control sequences that are responsible for the metabolism of lactose in bacteria.