Consider the Following Actions Undertaken by a Firm: A

question 191

Multiple Choice

Consider the following actions undertaken by a firm: a. charging the same price for products of different quality
B. charging different prices to different consumers for the same product when the variation cannot be explained by cost differences
C. charging different prices for products of different qualities
D. charging a lower price to match a competitor's price
Which of the above will be considered price discrimination?

• A) a, b, c, and d
• B) a, b, and d only
• C) b and d only
• D) a and b only

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Definitions:

Perceptions

Perceptions are the ways in which individuals interpret and understand their environment and experiences, influenced by their own beliefs, thoughts, and feelings.

Prototypes

Early samples, models, or releases of a product built to test a concept or process or to act as a thing to be replicated or learned from.

Social Category

A classification of people based on shared characteristics or attributes, such as race, gender, or socioeconomic status, which can influence identity and perceptions.

Social Identities

An individual's sense of who they are based on their group membership(s), such as cultural, social, or occupational groups, influencing their behavior and perceptions.