Yield Management and Price Discrimination Have Enabled Firms to Increase

question 101

Multiple Choice

Yield management and price discrimination have enabled firms to increase profits and, at the same time,

• A)reduce the cost of production.
• B)capture some consumer surplus.
• C)reduce transactions costs.
• D)transfer some producer surplus to consumers.

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Definitions:

Longing

A deep or persistent desire or yearning for something, often something distant or unattainable.

Hippocrates' Theory

A historical perspective on medicine that attributed health and disease to the balance of bodily fluids, introduced by the ancient Greek physician Hippocrates.

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Enduring characteristics or behaviors that define an individual and differentiate them from others.

Choleric

Relating to one of the four temperaments characterized by quickness to anger and bad temper.