Charging Individual Prices That Are Based on Consumers' Willingness to Pay

question 25

Multiple Choice

Charging individual prices that are based on consumers' willingness to pay is

• A)will pricing.
• B)price discrimination.
• C)government price supports.
• D)second tier pricing.

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Definitions:

Cultural Evolution

The theory that culture changes over time due to various factors such as innovation, diffusion, and social learning, somewhat analogous to biological evolution.

Notion Of Progress

The idea or belief that society, technology, the economy, and cultures are moving forward and improving over time.

Horticulturalists

Individuals or societies that specialize in the art and science of cultivating plants, especially fruits, vegetables, and ornamental plants.

Agriculturalists

Individuals or societies that engage in agriculture, the practice of cultivating soil, producing crops, and raising livestock for human use.