Which term describes the phenomenon where fans are willing to pay more for tickets to high-demand games, such as rival matches or playoff games? A. Price discrimination B. Dynamic pricing C. Elastic demand. D. Inelastic demand.

Which term describes the phenomenon where fans are willing to pay more for tickets to high-demand games, such as rival matches or playoff games? A. Price discrimination B. Dynamic pricing C. Elastic demand. D. Inelastic demand.

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Question

Which term describes the phenomenon where fans are willing to pay more for tickets to high-demand games, such as rival matches or playoff games?

A. Price discrimination

B. Dynamic pricing

C. Elastic demand.

D. Inelastic demand.

Definition Definition Pricing strategy based on the principle that the seller will charge the buyer a price based on the buyer’s ability and willingness to pay for the product rather than applying uniform pricing for all.

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