After the tornado in Lethbridge,Alberta,businesses were trying to sell lumber for 50 percent above their regular prices.What is this an example of?
A)predatory prices
B)price discrimination
C)price gouging
D)penetration pricing

Question

Quizplus · Accepted Answer

This is an example of price gouging, which occurs when businesses take advantage of a high demand situation (such as after a natural disaster) to charge significantly higher prices for goods or services.

After the Tornado in Lethbridge,Alberta,businesses Were Trying to Sell Lumber