Yield Management and Price Discrimination Have Enabled Firms to Increase

question 76

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 transaction costs.
• D) transfer some producer surplus to consumers.

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Definitions:

Resentment

A feeling of bitterness or indignation experienced as a result of unfair treatment or perceived injustice.

Consequences

The outcomes or effects that result from a particular action or set of conditions.

Punishment

The imposition of a penalty as retribution for an offense, with the intention of discouraging undesirable behavior.

External Locus

The belief that one's outcomes or fate are controlled by external forces or the environment, as opposed to internal factors or personal effort.