Price discrimination is best defined as
A)Charging an excessive price for a product.
B)The charging of different prices by different companies for the same product.
C)The selling of an individual good at different prices to different consumers by a single seller.
D)The selling of differentiated goods to consumers at different prices.

Question

Quizplus · Accepted Answer

Price discrimination is when a seller charges different prices for the same product to different consumers. This is usually done to increase profits and is only possible if the market is not perfectly competitive, meaning there is some degree of market power that allows the seller to charge different prices.

Price Discrimination Is Best Defined as