Identify three conditions that a firm must meet to practice price discrimination:
A. The firm must have some control over the price and the product
B. The firm must operate in the growth phase of its product life cycle
C. The markets in which products are sold must be separable
D. Price elasticity of demand for the product must differ
E. The firm operates its plant at full capacity
Choose the correct answer from the options given below:
1
A, B and C only
2
A, C and D only
3
B, D and E only
4
B, C and D only