If the Demand for a Newly Released Novel Is Less

question 81

Multiple Choice

If the demand for a newly released novel is less price-elastic than the demand for an older novel, which of the following pricing strategies would a price-discriminating publishing firm follow?

• A) Sell newly released novels and older novels for the same price.
• B) Set price according to the marginal cost of printing the novels.
• C) Charge a higher price for newly released novels.
• D) Charge a higher price for older novels.

---

Definitions:

Big Five Model

A psychological theory that identifies five primary dimensions of personality: openness, conscientiousness, extraversion, agreeableness, and neuroticism.

Generalizes

The act or process of applying specific observations or experiences to broader contexts or situations.

Cultures

The characteristics and knowledge of a particular group of people, encompassing language, religion, cuisine, social habits, music, and arts.

Outside Influences

Factors originating from the external environment that can impact an individual's decisions, actions, or well-being.