Many worldwide big art museums such as Metropolitan Museum of Art in New York use a very special pricing for its admission fee: “pay what you wish”. (see a list of museums using “pay what you wish” entry policy: https://www.jerseyfamilyfun.com/new-york-city-museums-free-admission/
(i) why do many museums use such special pricing strategy?
(ii) in your opinion, does this belong to cost-based, or competition-based, or value-based pricing approach, and why?
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