Charging different prices to different customers for essentially the same product is
A) predatory pricing
B) target pricing
C) price discrimination
D) price gouging

Question

Quizplus · Accepted Answer

Price discrimination refers to charging different prices to different customers based on factors such as their willingness to pay, location, age, or other demographic characteristics. This practice is not necessarily illegal, but it can be considered a form of unfair competition if it results in certain customers paying more or less for the same product or service. Predatory pricing refers to setting very low prices to drive competitors out of business, while target pricing involves setting prices based on the perceived value of the product or service to the customer. Price gouging is a form of price discrimination that occurs during emergencies or shortages when sellers raise prices excessively to take advantage of consumers.

Charging Different Prices to Different Customers for Essentially the Same