Price discrimination
A)is the practice of charging different prices to different customers based on a seller's personal preferences and prejudices.
B)is the practice of charging different prices to different customers based on the different costs of supplying the product to different customers.
C)is the practice of charging different prices to different customers when the price differences cannot be attributed to variations in cost.
D)is the practice of giving preferential treatment to certain groups of customers based on their long-standing relationship to the producer.

Question

Quizplus · Accepted Answer

Price discrimination is when different prices are charged to different customers for the same product or service. When the price differences cannot be attributed to variations in cost, it is considered price discrimination. This can happen due to differences in consumer demand, willingness to pay, or other factors unrelated to costs.

Price Discrimination