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

Name: Sellers can increase total revenues by charging different individuals the maximum they are willing to pay.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

This is the concept of price discrimination, where sellers charge different prices to different consumers based on their willingness to pay. By doing this, sellers can capture more of the consumer surplus and increase their total revenues.

Sellers Can Increase Total Revenues by Charging Different Individuals the Maximum