Why is price lining a good practice for retailers?
What will be an ideal response?
Price lining is a way to maximize profits. Price lining uses a limited number of prices, or price points, that generally fall at the top of the range that different types of customers find acceptable. Ideally, companies would charge each customer a different price—the highest price she was willing to pay. Since this isn't possible, price lining is a more workable alternative.
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