Affecting a firm’s revenue, when consumers can determine price through pay-what-you-want, the amount they select depends on their unselfish self-signaling.
Our economic news summary includes chicken sandwiches, reefers and the supply chain, the internet and the information infrastructure and the federal budget.
In a chicken sandwich are ingredients from around the world that one person can create but the price system gathered them for us at the local supermarket.
When “pay what you want” is used to determine restaurant prices, it creates incentives for consumers on the demand side that typically eliminates profit.
Expensive trophy hunting packages demonstrate how the price system gives a value to animals that helps to preserve them.
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