When firms with market power price products "too high", companies are:
A)Price gouging
B)Price discrimination
C)Predatory prices
D)Penetration pricing

Question

Quizplus · Accepted Answer

Price gouging refers to the practice of charging excessively high prices, especially during times of crisis or when demand is high. When firms with market power price products too high, they are taking advantage of their ability to control the market and exploit consumers. This is often seen as unethical and can lead to consumer backlash and regulatory intervention.

When Firms with Market Power Price Products "Too High", Companies