Often a seller will establish a series of prices for a family of merchandise items. There may be several different models at specific price points but no prices in between. What is this policy called?

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This policy is called price lining, where the seller establishes a limited number of prices for a group of products with different features or characteristics. There are no prices in between these established price points. For example, a clothing store may offer shirts at $20, $40, and $60 with no prices in between.

Often a Seller Will Establish a Series of Prices for a Family