In order to price discriminate, a firm must
A) produce a product that is a close substitute for products of other firms.
B) have different marginal costs for serving different customers.
C) sell to customers with identical price elasticities of demand.
D) be able to prevent resale of its product.
Answer: D
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The Organization of Petroleum Exporting Countries is a
a. professional trade association for oil companies. b. cartel. c. consortium for joint ventures in oil exploration. d. loose collection of democracies that promote international pipelines.
The CPI is based on a representative group of goods called the market basket
Indicate whether the statement is true or false
The conventional merger is the ____ merger.
A. horizontal B. vertical C. conglomerate D. diversifying
Which of the following is a factor in determining the demand for the dollar on the foreign exchange market?
i. the exchange rate ii. interest rates in the United States and other countries iii. the expected future exchange rate A) i only B) ii only C) iii only D) i and ii E) i, ii, and iii