Final answer:
True, a firm can sell an identical product to customers with different elasticities of demand, implying price discrimination where prices vary based on customer responsiveness to price changes. The concept of elasticity includes elastic, inelastic, and unitary categories.
Step-by-step explanation:
True. Assuming that the firm is engaging in price discrimination, it is possible to sell an identical product to different customers with different elasticities of demand. Customers with more elastic demand are more responsive to price changes and may be charged a lower price to induce greater quantity purchased, while customers with inelastic demand, being less sensitive to price changes, may be charged a higher price.
Elasticities can be categorized into three types: elastic, inelastic, and unitary. An elastic demand indicates a high responsiveness to price changes (elasticity greater than one). Inelastic demand indicates low responsiveness (elasticity less than one), and unitary elasticity means that quantity demanded changes proportionally to price changes.
Regarding the false statement about the goods market, sellers might be willing to sell for less than the equilibrium price due to various reasons such as a surplus of goods, needing to clear out inventory, or facing a cash flow crisis.