Price discrimination is:
a. when firms charge different prices to different customers based on the different costs of serving them.
b. when firms charge different prices to different customers based on their willingness to pay.
c. an illegal practice.
d. a practice that leads to the same outcome as would public ownership of a monopoly.
Ans: b. when firms charge different prices to different customers based on their willingness to pay.
Economics
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The most important function of money is to
A) allow for positive interest rates. B) enable people to measure their own personal worth. C) facilitate the collection of taxes. D) encourage greed among people. E) serve as a medium of exchange.
Economics
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What will be an ideal response?
Economics