Asked by rejina kristin on May 10, 2024
Verified
When deciding what price to charge customers,a firm may choose to charge different prices based on customers'
A) Age
B) Willingness to pay
C) Location
D) All of the above
Willingness To Pay
The maximum amount an individual is prepared to spend to procure a good or service.
Charge Customers
The act of requesting payment from consumers for goods or services provided.
- Understand the concept of price discrimination and its different forms.
Verified Answer
DM
Desiree' MonroeMay 16, 2024
Final Answer :
D
Explanation :
Firms may choose to charge different prices based on various factors including customers' age, willingness to pay, and location, as part of price discrimination or differential pricing strategies to maximize profits.
Learning Objectives
- Understand the concept of price discrimination and its different forms.