Many Firms Use Technology to Gather Information on the Preferences

question 55

Multiple Choice

Many firms use technology to gather information on the preferences of consumers and their responses to changes in prices.This information is then used to adjust prices of the firms' goods and services.This practice is called

• A)price discovery.
• B)empirical research.
• C)yield management.
• D)econometrics.

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Definitions:

Myelination

The process of forming a myelin sheath around nerves to increase the speed at which electrical impulses propagate along the neural cell.

Prefrontal matter

Refers to the gray matter of the prefrontal cortex, a region of the frontal lobes of the brain involved in decision-making, executive control, and integrating various streams of information relevant to conscious experience.

Maturation process

The developmental process by which individuals reach physical and psychological maturity, encompassing both natural growth and learned behavior.

Pound for pound

A comparison term used to describe the strength or value of something relative to its weight.