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The person who is considered by many to be the founding father of I/O psychology and whose book, Psychology ofIndustrial Efficiency (1913) was the field's first textbook is:
Off-Peak Periods
Times when demand for a service or product is lower, often leading to reduced prices or rates to encourage usage or purchase during these times.
Demand Shift
A change in consumers' desire to purchase goods or services, influenced by factors like price changes, seasonal trends, or evolving preferences.
Static Pricing
A pricing strategy where the price of a product or service is fixed and does not change in response to market fluctuations or consumer demand variations.
Optimal Price
The price point that maximizes a company's profits or achieves other specified business objectives, taking into account costs, demand, and competitive pricing.
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