A firm charging different customers different prices for the same product is engaged in:

Question

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Price discrimination involves charging different prices for the same product to different customers based on their willingness to pay. This can be seen in situations where the seller offers discounts or lower prices to certain groups of customers, such as students or senior citizens. It is a common practice in various industries like airlines, cinema halls, and hotels.

A Firm Charging Different Customers Different Prices for the Same