Dynamic Pricing Has Been Used to Price Tickets to Professional

question 35

True/False

Dynamic pricing has been used to price tickets to professional sporting events.

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Definitions:

Marginal Cost

The cost incurred by producing an additional unit of a product or service.

Elasticity

A measure of how much the quantity demanded or supplied of a good responds to a change in one of its determinants, such as its price.

Marginal Cost

Marginal cost is the increase in total production cost that arises from producing one additional unit of a product or service.

Subsidy

A financial contribution granted by the government or a public body to help an industry or business keep the price of a commodity or service low.