Which of the Following Is Not a Characteristic of a Successful

question 62

Multiple Choice

Which of the following is not a characteristic of a successful price discriminator?

• A)It has monopoly power.
• B)It can prevent the resale of the product.
• C)Its marginal costs of production differ across customers.
• D)Willingness to pay for its product differs across customers.

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Definitions:

Implied Warranty

A legal theory in commerce that holds sellers responsible for ensuring the products sold are suitable for their intended use, even if not explicitly stated.

Puffing

Exaggerated or boastful statements about a product or service that are subjective and not meant to be taken literally.

Restatement Of Contracts

A comprehensive set of principles regarding contract law drafted by legal scholars to help clarify and unify the law of contracts.

Magnuson-Moss Act

A federal law enacted to protect consumers from deceptive warranty practices, ensuring warranties on consumer products are clear and enforceable.