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agasfer [191]
3 years ago
11

In order for a firm to engage in price discrimination, it must be Your answer: able to separate consumers into different groups

based on demand elasticities producing in the inelastic portion of its demand curve to raise its price and increase total revenue a price taker experiencing economies of scale in the relevant range of production employ facial-recognition software or GPS-tracking to learn customer behavior
Business
1 answer:
Ugo [173]3 years ago
5 0

Answer:

able to separate consumers into different groups based on demand elasticities 

Explanation:

Price discrimination is when a seller sells the same product for different prices in different markets.

In price discrimination, the seller aims to eliminate consumer surplus by charging the highest possible price a consumer would be willing to pay.

Price discrimination can only be done by a price maker and not a price taker.

A supplier needs to know the elasticity of demand of its customers. Customers with an inelastic demand would be indifferent to higher prices while customers with an elastic demand would reduce demand If price was high. A supplier would charge a higher price to customers with an inelastic demand and a lower price to customers with an elastic demand.

I hope my answer helps.

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Creditors will decline your request for credit if they see that your income is insufficient to cover your debts.

Lenders will be reluctant to approve a loan if you have a bankruptcy on your credit report since it increases the risk involved.

Thus, Option B is correct.

<h3>Who makes the decision about your credit application?</h3>

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The Law of Demand is a rule stating that more will be demanded at lower prices and less at higher prices; inverse relationship b
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Answer:

True

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Answer 1  

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