An online music instructor is establishing their studio's cancellation policy. Which of the following is the most effective and fair approach to protect their income while respecting their students' time?
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A
Requiring 24-hour notice for any cancellation, otherwise the full lesson fee is charged.
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B
Allowing students to cancel at any time without a fee, as a gesture of goodwill.
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C
Charging a small administrative fee for all cancellations, regardless of when they are made.
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D
Permitting only one cancellation per year without a fee, with all subsequent cancellations being charged in full.