When a business such as an airline charges different prices for different people for the same product, they are practicing
A. an illegal price policy.
B. price discrimination.
C. non-price competition.
D. a marketing policy which usually backfires.
B. price discrimination.
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The self-correcting property of the economy means that output gaps are eventually eliminated by:
A. increasing or decreasing potential output. B. government policy. C. decreasing inflation only. D. increasing or decreasing inflation.
In the last 40 years, merger policy has become a major way for antitrust authorities to regulate market structure
Indicate whether the statement is true or false
All points on a demand curve are optimal consumption points
a. True b. False Indicate whether the statement is true or false
The primary effect of OPEC actions in the period from 1973 to 1980 was to increase
A. wage rates. B. interest rates. C. employment and output. D. energy prices.