The producer surplus on a unit of output is the difference between the market price and the opportunity cost of producing it.
Indicate whether the statement is true or false
Question 2
Which of the following is NOT necessary for a firm to engage in price discrimination?
A) The firm must be able to identify different types of buyers.
B) The firm must be able to separate buyers by preventing resales from one customer to another.
C) The firm must produce output for different buyers at different costs.
D) The firm must sell a product that cannot be resold.
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