Price discrimination is
A) always illegal in the United States.
B) defined as charging the same price to all consumers.
C) defined as charging different prices for different units.
D) setting the price to minimize the quantity sold.
E) Both answers A and C are correct.
C
You might also like to view...
In a given community, if the government builds more freeways, then the supply curve for freeway space shifts rightward and the demand curve for freeway space shifts leftward
Indicate whether the statement is true or false
Refer to the diagram for the corn market. Assuming no externalities, a price support of B causes:
A. economies of scale.
B. production to be less profitable to farmers.
C. an underallocation of resources to this product.
D. an overallocation of resources to this product.
The change in price that results from a leftward shift of the supply curve will be greater if
A) the demand curve is relatively steep than if the demand curve is relatively flat. B) the demand curve is relatively flat than if the demand curve is relatively steep. C) the demand curve is horizontal than if the demand curve is vertical. D) the demand curve is horizontal than if the demand curve is downward sloping.
Explain what is meant by "derived demand" as it relates to factors of production