When managers take advantage of an unusual event by charging prices that consumers believe are too high, they are practicing:
A) Price gouging
B) Cost-based pricing
C) Predatory pricing
D) Illegal pricing

Question

Quizplus · Accepted Answer

Price gouging occurs when sellers increase the prices of goods, services, or commodities to a level much higher than is considered reasonable or fair, often in response to a sudden increase in demand or decrease in supply, typically due to an unusual event.

When Managers Take Advantage of an Unusual Event by Charging