Questions and Answers - 73536

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smarttutor

smarttutor

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  • From: Business, Marketing
  • Posted on: Sat 30 Aug, 2014
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Request Description

 

Discuss the ethics of pricing products to match the value that consumers are willing to pay for products (e.g., $2.50 bottle of water, $150 running shoes, etc.). Is it unethical to charge high prices when the cost of making a product is significantly less than the retail price?

Solution Description

 

I do find price gouging to be very unethical. Me and my wife recently went to Boston to the Boston aquarium and when we went to get something to eat at the cafe and mind you that this is the only place at