A firm's ability to successfully practice price discrimination is greater
a. the more difficult it is to identify a customer's willingness to pay
b. the more standardized the product offered by the firm
c. the more difficult it is to transfer its product from person to person
d. the more active the resale market is for their product
e. in goods-producing markets than in service-producing markets
C
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Buyers who are persuaded to take a product home to try it out, _____
a. are likely to return the product later b. are lucky the seller is not concerned about the buyers' credit ratings c. will not derive any utility from that product. d. have no money to pay at the time e. will be reluctant to return the product when payment is due
When a perfectly competitive firm experiences positive economic profits in the short run
A) the high barriers to entry prevent further competition. B) existing firms exit the industry. C) new firms enter the industry. D) firms have no incentive to exit or enter the industry.