Price discrimination explains why many universities often set rules that determine prices of admission (or financial aid).What characteristic of students is this based on

Question

Quizplus · Accepted Answer

Price discrimination is based on the ability and willingness of different customers to pay for the same product or service. In this case, universities determine the prices of admission (or financial aid) based on the financial resources of the students. Students with higher financial resources may be charged higher fees, while those with lower financial resources may be charged lower fees or offered more financial aid.

Price Discrimination Explains Why Many Universities Often Set Rules That