Which of the following is NOT a precondition for price discrimination?
A) The product cannot be resold to another customer.
B) The price elasticities of demand are different for each group of consumers.
C) The product is a durable good.
D) The seller must have some market power.
C
Economics
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For the average total cost curve of a firm with economies of scale, what happens to costs as output increases?
(A) Costs go up. (B) Costs go down. (C) Costs initially go up and then go down. (D) Costs initially go down and then go up.
Economics
The more substitutes for a good, the more elastic its demand
Indicate whether the statement is true or false
Economics