Which of the following is not a requirement for a successful price discrimination strategy?
A) The firm must be able to prevent arbitrage.
B) A firm must have the ability to charge a price greater than marginal cost.
C) Transactions costs must be the same for all consumers.
D) Some consumers must have a greater willingness to pay for the product than other consumers, and the firm must be able to know what prices consumers are willing to pay.
C
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When the economy is in long-run equilibrium, there will be
A) no unemployment. B) cyclical unemployment only. C) frictional and structural unemployment. D) cyclical and seasonal unemployment.
A craft labor union is made up of
A) groups of workers in an individual trade. B) all the workers in a firm such as General Motors. C) firms that employ similar labor skills. D) an organization that controls the labor market in a particular industry.
The idea that a society as wealthy as the United States has a moral obligation to provide its members with the necessities of life is the argument most often used
A. in favor of an equal distribution of income. B. in favor of income redistribution. C. in favor of abolishing the minimum wage. D. against income redistribution.
If real GDP is $18,200 billion (in 2012 dollars) in 2018 Q1 and $18,400 (in 2012 dollars) in 2018 Q2, then the annualized quarterly growth rate of real GDP is
A. 1.0%. B. 1.1%. C. 0.4% D. 4.5%.