Pricing Based on What the Market Will Bear Works Only

question 11

True/False

Pricing based on what the market will bear works only for non-standardised products in markets where there is low competition.

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Definitions:

Taft-Hartley Act

A 1947 federal law that restricts the activities and powers of labor unions in the United States.

Landrum-Griffin Act

The Landrum-Griffin Act (officially called the Labor Management Reporting and Disclosure Act) focused on eliminating various unethical, illegal, and undemocratic union practices.

Worker Adjustment and Retraining Notification Act

A U.S. federal law that requires employers to provide advance notice in cases of qualifying plant closings and mass layoffs.

McDonnell-Douglas Test

The McDonnell-Douglas test is used as the basis for establishing a prima facie case of disparate impact discrimination.