________ Pricing First Appeared in the Nineteenth Century with the Development

question 84

Short Answer

________ pricing first appeared in the nineteenth century with the development of mass national markets and retail stores that could sell to a national audience.

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Definitions:

Firm Should

Advises or considerations regarding strategic decisions that businesses ought to follow to achieve objectives such as profitability, growth, or sustainability.

Consumer Surplus

The difference between the total amount that consumers are willing and able to pay for a good or service and the total amount that they actually pay.

Maximum Willingness

The highest amount an individual or entity is ready to pay for a good or service.

Individual Pays

A principle where the cost of a service or good is borne by the individual who consumes or uses it, rather than by society or an organization.