Charging Each Customer His or Her Maximum Willingness to Pay

question 164

Multiple Choice

Charging each customer his or her maximum willingness to pay is:

• A) unethical.
• B) perfect price discrimination.
• C) not a profit-maximizing strategy.
• D) impossible in practice.

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Definitions:

Three-Component Attitude Model

An attitude consists of cognitive, affective, and behavioural components. This threefold division has an ancient heritage, stressing thought, feeling, and action as basic to human experience.

Conative

Related to volition, it involves aspects of mental life associated with desire, volition, and striving, including the act of volitional intention to perform actions.

Behavioural

Pertaining to observable actions or responses of organisms, often studied in psychology and biology to understand the mechanisms underlying actions.

Sex-Typical Attributes

Characteristics generally associated with one gender based on cultural norms or biological factors.