Sellers can increase total revenues by charging different individuals the maximum amount they are willing to pay.

Question

Quizplus · Accepted Answer

This is known as price discrimination and can be an effective strategy to increase revenue. By charging different prices to different customers based on their willingness to pay, sellers can capture more revenue and potentially increase profits. However, it is important for sellers to avoid illegal discrimination practices and ensure that prices are based on legitimate factors such as production costs or market demand.

Sellers Can Increase Total Revenues by Charging Different Individuals the Maximum