econ._ch_15 - business. 2.3- Process of understanding...

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Nancy Crawley Ch. 15 p. 529 2.1- Charging different prices to different customers for the same product when the price differences are not due to differences in cost. They must have market power, some people have to have a greater willingness to pay, and firms must be able to divide up. 2.2- Because it makes people think about their options and also pulls them in to use their
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Unformatted text preview: business. 2.3- Process of understanding consumer behavior in order to maximize revenue or profit from a fixed resource. Airlines. 2.4- Each consumer would have to pay a price equal to the consumers willingness to pay and therefore would receive no consumer surplus. No, it would not happen because its not economically right. Not is not efficient....
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This note was uploaded on 01/05/2012 for the course ECON 200 taught by Professor Dr.frank during the Spring '10 term at Wingate.

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