In order to be a successful price discriminator, a provider must have a degree of market power (depicted by a downward-sloping demand curve) and meet what other condition(s)?

a. Prospective customers must be categorized according to willingness-to-pay.
b. Opportunities for resale of the good or service must be limited.
c. Customers cannot know that multiple prices are being charged.
d. The provider must have excess capacity to accommodate the extra business.
e. Both a and b.

E

Economics

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When a freely functioning market is in disequilibrium:

a. the government must set a price ceiling. b. the government must set a price floor. c. the price and quantities demanded and/or supplied change until equilibrium is established. d. it will continue to remain in disequilibrium. e. it will reach equilibrium at a very high/low price.

Economics

Until the beginning of the 20th century, the overriding and chronic money problem the United States faced was

a. an overreaching and politically controlled Federal Reserve System b. an inability to persuade the Treasury to make open market operations c. the banks' inclination to overissue currency d. the inability of the Federal Open Market Committee to agree among themselves on policy issues e. the linking of fiscal and monetary policy by the central bank

Economics