Under ________ Pricing, Different Versions of the Product Are Priced

question 157

Multiple Choice

Under ________ pricing, different versions of the product are priced differently but not according to differences in their costs.

• A) product form
• B) optional product
• C) captive product
• D) by-product
• E) seasonal

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Definitions:

Total Utility

The total satisfaction or benefit derived from consuming a particular quantity of goods or services.

Law of Diminishing Marginal Utility

An economic principle that states the additional satisfaction a consumer gets from purchasing one more unit of a product will lessen with each additional unit purchased.

Marginal Utility

The additional satisfaction or utility that a consumer derives from consuming one more unit of a good or service.

Total Utility

The total satisfaction or benefit a consumer receives from consuming a specific quantity of goods or services.