Price discrimination reveals
A) the inherent greed of Western culture.
B) the inability for regulators to stop unethical practices.
C) that individuals have different willingness to pay.
D) that individuals have the same willingness to pay.

Question

Quizplus · Accepted Answer

Price discrimination refers to the practice of charging different prices for the same product to different customers based on their willingness to pay. This strategy is often used by businesses to maximize profits by charging more to customers who are willing to pay higher prices, while still generating sales from customers who are only willing to pay lower prices. Therefore, price discrimination reveals that individuals have different willingness to pay. It does not necessarily indicate greed or unethical practices, and regulators can still take action to ensure that businesses are not engaging in discriminatory behavior that violates antitrust laws or consumer protection regulations.

Price Discrimination Reveals