Price discrimination refers to
A)the practice of charging different prices to different buyers for goods of like grade and quality.
B)an arrangement a manufacturer makes with a reseller to handle only its products and not those of a competitor.
C)the practice of charging a very low price for a product with the intent of driving competitors out of business.
D)a conspiracy among firms to set prices for a product or service.
E)a seller's requirement that the purchaser of one product also buy another product in the line

Question

Quizplus · Accepted Answer

Price discrimination refers to the practice of charging different prices to different buyers for goods of like grade and quality. This can be based on different factors such as location, time of purchase, quantity purchased, etc. It is a strategy used by firms to maximize profits and is often seen in industries like airline tickets, movie theaters, and insurance.

Price Discrimination Refers to