Which of the following is NOT a condition for price discrimination to exist?
A. unpatented product or the service
B. identification of buyers with differing elasticities
C. downward sloping demand curve faced by the firm
D. ability to prevent the resale of the product or service
Answer: A
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In the above figure, if initial equilibrium is at point A and if there is an unanticipated increase in aggregate demand from AD1 to AD2, then
A) in the short run real output will remain at Y1. B) in the short run real output will increase above Y1, but in the long run it will return to Y1. C) in the long run real output will increase above Y1. D) real output will increase above Y1 in both the short run and in the long run.
Which of the following can be categorized under fiscal policy?
a. Increase in money supply b. Decrease in money supply c. Increase in federal funds rate d. Decrease in reserve requirement e. Increase in tax rates