Charging individual prices that are based on consumers' willingness to pay is
A) government price supports.
B) will pricing.
C) second tier pricing.
D) price discrimination.

Question

Quizplus · Accepted Answer

Charging individual prices based on consumers' willingness to pay is commonly known as price discrimination. This practice involves selling the same product or service at different prices to different consumers based on factors such as their income, age, and location. Price discrimination is often used by businesses to maximize profits by charging higher prices to consumers who are willing to pay more, while still making sales to consumers who are price-sensitive.

Charging Individual Prices That Are Based on Consumers' Willingness to Pay