According to economic pricing theory, the basic objective of every pricing strategy
A)is to reduce prices in order to increase consumer surplus and the quantity sold
B)to raise prices in order to reduce consumer surplus
C)sell at a price and quantity where total revenue is maximized
D)to capture consumer surplus and convert it to additional profit for the firm

Question

Quizplus · Accepted Answer

The basic objective of pricing strategies in economic theory is often to capture consumer surplus and convert it into additional profit for the firm, aligning with profit maximization goals.

According to Economic Pricing Theory, the Basic Objective of Every