Which of the Following Is the Fundamental Condition That Would

question 178

Multiple Choice

Which of the following is the fundamental condition that would allow a firm to practice price discrimination?

• A) All customers possess identical willingness to pay for the product.
• B) The good can be purchased at one market and resold at another market.
• C) There are two or more different demand curves for the good.
• D) Demand for the good is high.

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Definitions:

Fossil Stromatolites

Ancient, layered bio-chemical structures created by the trapping, binding, and calcification of sedimentary grains by microbial mats of microorganisms, especially cyanobacteria, indicative of early life on Earth.

Cells

Basic structural, functional, and biological units of all living organisms, consisting of a nucleus and cytoplasm enclosed in a membrane.

Mesozoic Era

Span of geologic time commonly known as the Age of Reptiles; divided into Triassic (252–201 mya), Jurassic (201–145 mya), and Cretaceous (145–66 mya) periods; ended with the mass extinction of the dinosaurs and many other species.

Dominant Life Form

The prevailing organisms in a particular ecosystem, characterized by their extensive presence and influence on that environment.