When a business such as an airline charges different prices for different people for the same product,they are practicing

Question

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Price discrimination refers to the practice of charging different prices for the same product to different customers. It is not illegal if the difference in price is based on factors such as quantity purchased or the cost difference of providing the product. Airlines often use this strategy by charging different fares for economy and first-class seats, as well as offering discounts to students or senior citizens. It is a common marketing practice and can be effective in maximizing revenue. Non-price competition refers to strategies such as advertising or product differentiation, while (D) is incorrect as there is no evidence that this marketing policy usually backfires.

When a Business Such as an Airline Charges Different Prices