The Difference Between the Price Consumers Are Willing to Pay

question 79

Multiple Choice

The difference between the price consumers are willing to pay and the
Price that they actually pay is known as:

• A)price discrimination.
• B)government surplus.
• C)consumer surplus.
• D)producer surplus.

---

Definitions:

Price Differentials

The variation in the price of goods or services when compared across different markets, sellers, or buying conditions.

Price-insensitive Product

A product for which demand does not significantly change with a price increase or decrease, often due to its unique value or lack of alternatives.

Product-line Pricing

A marketing strategy that manages the prices of multiple products within the same product range.

Bundle Pricing

A pricing approach where several items or services are bundled and offered for sale at one price.