An Airline Runs a 6-Month Promotional Program Where All Baggage

question 64

True/False

An airline runs a 6-month promotional program where all baggage fees are waived. It is using a cost-based pricing strategy.

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Definitions:

Firm Offer

A binding proposal to sell or buy goods that holds the offering party to its terms for a certain period.

Merchant

An individual or company engaged in the business of buying and selling goods for profit.

Misprint

An error in printing that results in incorrect text, images, or formatting being produced.

Promissory Estoppel

A legal principle that prevents a promisor from retracting a promise when the promisee has reasonably relied on the promise to their detriment.