In Case of Third-Degree Price Discrimination in Two Markets with Differing

question 60

Multiple Choice

In case of third-degree price discrimination in two markets with differing demand elasticities,price will:

• A)converge in the two markets if resale is possible.
• B)be higher in the market with the more elastic demand.
• C)be higher in the market with the higher average cost.
• D)differ between the two markets only if the number of consumers varies.

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Definitions:

Net Method

An accounting method where discounts for early payment are assumed to be taken and purchase discounts are deducted from the cost of purchases.

Recording Purchases

The process of documenting the acquisition of goods or services in the financial records of an entity, impacting its inventory or expense accounts.

Periodic Inventory System

An accounting method that updates inventory levels and cost of goods sold at the end of an accounting period, not continuously.

Merchandise Inventory

The goods or products that a retailer or wholesaler intends to sell to customers for a profit.