When dominant enterprises in an industry exercise a degree of pricing power,setting different prices in different markets to reflect varying demand conditions,it is referred to as

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This scenario describes price discrimination, which is when a company charges different prices for the same product in different markets based on varying demand conditions. This practice is often used by dominant companies in an industry with pricing power. Premium pricing refers to charging a higher price for a product to emphasize its quality or exclusivity. Psychological pricing refers to using pricing tactics that appeal to consumers' emotions or cognitive biases. Price skimming involves setting a high price initially for a new product and gradually lowering it over time. Price leadership refers to an industry dominated by one or a few firms that set the market price for a product or service.

When Dominant Enterprises in an Industry Exercise a Degree of Pricing