Dynamic Pricing Is Considered Especially Tricky in Situations Where Consumers

question 89

True/False

Dynamic pricing is considered especially tricky in situations where consumers make repeated purchases and are more likely to remember past prices, and when they have alternative choices.

---

Definitions:

Liability for Negligence

The legal responsibility that arises when someone fails to exercise a reasonable standard of care, resulting in harm or damage.

Substantial Performance

Substantial performance is a legal principle indicating that if a party has performed enough of its contract obligations, it can demand payment or compensation, minus deductions for unfinished or incorrect work.

Breach of Contract

A breach of contract occurs when one party fails to fulfill its obligations under the contract, thereby violating the agreement.

Punitive Damages

Monetary compensation awarded to an aggrieved party that goes beyond what is necessary to compensate for losses, intended to punish the wrongdoer.