A school bookstore tried to engage in price discrimination by selling novels to students and faculty for different prices. Its strategy was to increase prices to faculty and decrease prices to students. What is the most likely reason that this strategy failed?
A) Novels are sold in a competitive market.
B) There was nothing to prevent students from purchasing novels and reselling them to faculty.
C) Everyone had inelastic demand for novels.
D) There was no easy way to distinguish the students from the faculty.
Correct Answer:
Verified
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