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Which of the following are necessary conditions for successful price discrimination?
a. zero transactions costs
b. a perfectly competitive market structure
c. an imperfectly competitive market structure
d. at least two different markets with different price elasticities of demand
e. at least two different markets with different price elasticities of supply
Appraisal
An expert estimation of the value of property, typically real estate, art, or jewelry, often for the purpose of taxation, sale, or insurance.
Arbitration Clauses
Arbitration clauses are provisions in a contract that require the parties to resolve disputes through arbitration rather than through litigation in court.
Federal Law
Laws created and enforced by the federal government of a country, as opposed to state, local, or international laws.
Grace Period
A set length of time after a due date during which a payment can be made without penalty.
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