Which of the following conditions does not need to be satisfied in order to practice price discrimination?
a. a perfectly elastic demand curve
b. a negatively-sloped demand curve for the firm's output
c. the ability to identify customers who are willing to pay more for the good
d. the ability to identify customers who are not willing to pay more
e. the ability to prevent resale of the good
A
You might also like to view...
A commercial bank has actual reserves of $1 million and checkable-deposit liabilities of $9 million, and the required reserve ratio is 10%. The excess reserves of the bank are
A. $900,000. B. $1 million. C. $100,000. D. $50,000.
If the price of coffee decreases, the demand curve for tea (a substitute good) will:
a. remain unchanged. b. shift to the right. c. shift to the left. d. do none of these
Demand for goods in broader category definitions, such as "beverages", is usually less elastic than demand for more narrowly defined goods, such as "diet colas."
a. True b. False
On the basis of the law of demand, it is more likely that a person will lose his temper when the price of losing his temper is low than when it is high
Indicate whether the statement is true or false