Question: 1. What is price randomized strategy? Explain a situation you have faced in which you think this strategy could have been useful. 2. Why is

1. What is price randomized strategy? Explain a situation you have faced in which you think this strategy could have been useful.

2. Why is it that some firms with market power charge a high price in times of high demand, and vice versa, in times of low demand? Provide an example you have experienced.

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