When a Firm Significantly Increases the Price of a Good

question 75

Multiple Choice

When a firm significantly increases the price of a good or service because of an increase in demand,what unethical practice are they potentially engaging in?

• A) Consumerism
• B) Collusion
• C) Unfair pricing
• D) Collaboration
• E) Price gouging

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Definitions:

Pathogen

An element, such as bacteria or virus, that may cause disease.

Small Area

A designated, limited physical space or geographic region.

Community

A social group of any size whose members reside in a specific locality, share government, and often have a common cultural and historical heritage.

Wolhynian Fever

An infectious disease, also known as trench fever, caused by the bacteria Bartonella quintana and transmitted by body lice.