When Hotels Drop Their Rates on the Weekends, Then This

question 58

Multiple Choice

When hotels drop their rates on the weekends, then this form of price discrimination is known as ________.

• A) channel pricing
• B) image pricing
• C) product-form pricing
• D) time pricing
• E) location pricing

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Definitions:

Specific Performance

A legal remedy requiring a party to execute a contract according to the precise terms agreed on, rather than paying damages.

Restitution

A legal principle that requires a party to restore the other party to their original position prior to a loss or injury, or to compensate for the loss.

Injunction

A legal order that requires an individual or entity to do or to cease doing a specific action.

Damages

Monetary compensation awarded to a party in a legal proceeding as a remedy for loss or injury.