Author Question: For a monopolist to practice effective price discrimination, one necessary condition is: a. ... (Read 61 times)

kshipps · **on:** Jun 30, 2018

For a monopolist to practice effective price discrimination, one necessary condition is:
a. identical price elasticity among groups of buyers.
b. differences in the price elasticity of demand among groups of buyers.
c. that the product is homogeneous market.
d. none of these.

Question 2

An increase in the consumption of a good resulting from a reduction in price that makes the good cheaper in relation to other goods is called the:
a. substitution effect.
b. income effect.
c. real balance effect.
d. inelasticity effect.