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:

Liability

Being under a legal obligation, especially concerning financial debts or fulfilling certain duties.

Torts

Legal wrongs committed against a person or property, excluding breaches of contract and crimes, that lead to civil legal liability.

Partnership Agreement

A legal document that outlines the rights, responsibilities, and profit-sharing mechanisms among business partners.

Voting Rights

The entitlement of shareholders or members of an organization to vote on matters affecting the governance of the organization.