Which of the Following Service Providers Are Most Likely to Use

question 127

Multiple Choice

Which of the following service providers are most likely to use demand-based pricing?

• A) Dentists
• B) Lawyers
• C) Doctors
• D) Hair stylists
• E) Cruise ships

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Definitions:

Oligopolistic Firms

Companies that operate in a market structure characterized by a small number of entities dominating the industry, influencing prices and market conditions.

Prices Frequently

A reference to how often prices change in a market, with some markets experiencing more frequent price adjustments than others.

Credible Threats

Statements or signs that a negative action could realistically be taken, used as a strategy in negotiations or competitive situations.

Collusive Agreements

Arrangements between firms to limit competition and manipulate markets in their favor, often through setting prices or controlling supply.