Which of the Following Is True of Price Discrimination

question 47

Multiple Choice

Which of the following is true of price discrimination?

• A)It refers to the illegal movement of commodities from one country to another.
• B)It refers to the practice of charging different prices to different consumers for the same product.
• C)It is practiced by competitive firms to enjoy long run profits.
• D)It refers to the practice of buying a good at a low price and selling it at a higher price.

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Definitions:

Egocentric Thinking

A cognitive perspective where an individual has difficulty seeing situations from viewpoints other than their own, common in early childhood.

Halloween

An annual holiday celebrated on October 31st, involving traditions such as costume-wearing, trick-or-treating, and carving jack-o’-lanterns.

Distinguishing Appearance

Characteristics or attributes that make an entity visually recognizable or unique.

Mask

A covering for the face or part of the face, used for protection, disguise, performance, or entertainment.