One of the necessary conditions for price discrimination to occur is that:
a. buyers in different markets have different elasticities of demand.
b. the demand curve is upward sloping.
c. buyers must be allowed to resell the good at a higher price elsewhere.
d. all of these are necessary for price discrimination to occur.
a
Economics
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The own-price elasticity of demand is defined as:
a. the ratio of a change in quantity demanded and the change in price. b. the ratio of the percentage change in quantity demanded to the percentage change in price. c. the ratio of the percentage change in quantity demanded to the percentage change in input prices. d. the ratio of a change in output and the change in input usage.
Economics
Total revenue equals
a. price x quantity. b. price/quantity. c. (price x quantity) - total cost. d. output - input.
Economics