Which of the Following Is NOT an Example of Price

question 82

Multiple Choice

Which of the following is NOT an example of price discrimination?

• A) children's menus in restaurants
• B) peak and nonpeak rates for cell phone usage
• C) product innovations leading to lower prices
• D) standby seats sold at the last minute by airlines

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Definitions:

Joint Tenants

Joint tenants are co-owners of property under a legal arrangement where each owns an undivided interest, and upon death, the interest automatically transfers to the surviving joint tenant(s).

Survivorship

Survivorship is a legal principle referring to the right of a surviving joint owner to inherit a shared property in its entirety upon the death of the other joint owner(s).

Escheat

The reversion of land to the Crown when a person possessed of the fee dies intestate and without heirs.

Fee Simple

The most complete ownership in property available, giving the holder full control over the land and the buildings upon it.