To price discriminate, firms must identify a customer's or a group of customers' willingness to pay.

Name: To price discriminate, firms must identify a customer's or a group of customers' willingness to pay.
Brand: Quizplus
Rating: 4.9 (34 reviews)

Question

Quizplus · Accepted Answer

Price discrimination involves charging different prices to different customers based on their willingness to pay. Therefore, firms must identify the willingness to pay of different customer segments in order to implement successful price discrimination strategies.

To Price Discriminate, Firms Must Identify a Customer's or a Group