For an airline,the price of economy-class seats on any given flight may fluctuate over time.For example,the airline may try to fill economy-class seats by lowering the price as the day of the flight draws closer,or try to fill business-class seats first by raising prices on economy tickets.This is an example of
A)dynamic pricing.
B)seasonal discounts.
C)market pricing.
D)price skimming.
E)odd pricing.

Question

Quizplus · Accepted Answer

This scenario aligns with the concept of dynamic pricing, where prices are adjusted in real-time based on market demand, sales trends, and other factors. The airline is actively changing the price of economy-class seats in response to market conditions to optimize revenue and maximize seat occupancy. This allows the airline to respond to changes in supply and demand quickly and accurately.

For an Airline,the Price of Economy-Class Seats on Any Given