Convenient Departure Times Count as Which Attribute for Business Travelers

question 36

Multiple Choice

Convenient departure times count as which attribute for business travelers?

• A)Important
• B)Determinant
• C)Alternative
• D)Segmentation
• E)Quantitative

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Definitions:

Price Discrimination

The practice of selling the same product to different buyers at different prices, based on factors other than cost.

Consumer Surplus

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

Producer Surplus

The difference between the amount producers are willing to sell a good for and the actual amount they receive by selling it at the market price.

Direct Price Discrimination

The practice of charging different prices to different consumers for the same product or service, based on the buyer's willingness to pay.