Price discrimination occurs when a firm sells
A) a given product at different prices at different points in time.
B) a given product at different prices to different ethnic groups.
C) a given product at different prices unrelated to differences in cost.
D) a given product at different prices when it is produced in different colors.
C
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If the rate of growth in real GDP exceeds the rate of growth in the money supply, the quantity theory of money predicts a price deflation
Indicate whether the statement is true or false
Opportunity cost can best be defined as the
a. money cost of a good or service. b. money cost plus interest on money borrowed to buy a good or service. c. cost of the resources used to produce a good or service. d. value of the best alternative forgone when the alternative at hand is chosen.