What are the conditions for price discrimination?
The firm must possess some ability to control market price (the firm must possess some monopoly power), the ability to segment customers based on their elasticity of demand, and the product cannot be easily resold.
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Which of the following institutions are NOT examples of financial intermediaries?
A) 1st National Bank, Chemical National Bank, Chase Manhattan National Bank B) Farmer's Credit Union, 1st Mortgage Bank, IBM Credit Union C) a Savings and Loan, New York Savings and Loan, First American Savings and Loan D) the New York Stock Markets, Chicago and Pacific
The California gold rush resulted in
A) an increase in the amount of money in circulation and higher prices throughout the country. B) no change in the amount of money in circulation and higher prices throughout the country. C) an increase in the amount of money in circulation and higher prices only in California. D) no change in the amount of money in circulation and higher prices only in California.