Statement I.The Airlines Often Engage in Price Discrimination

question 50

Multiple Choice

Statement I.The airlines often engage in price discrimination.
Statement II.Price discrimination occurs when a seller charges two or more prices for the same good or service.

• A)Statement I is true and statement II is false.
• B)Statement II is true and statement I is false.
• C)Both statements are true.
• D)Both statements are false.

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Definitions:

Loose Culture

A culture that has relaxed social norms and allows conformity by members to vary a good deal.

Uncertainty Avoidance

A cultural or organizational characteristic where members prefer structured situations over ambiguity, aiming to minimize the unpredictability of future events.

Ecological Fallacy

The error of making inferences about individuals based on aggregate data for a group.

Uncertainty-Avoidance Cultures

Cultures that have a low tolerance for uncertainty and ambiguity, leading to well-established norms and rules to minimize the unpredictability of future events.