Price discrimination is the practice of
A)selling the same product to different consumers at the same price.
B)selling the same product to different consumers at different prices.
C)selling different products to consumers at different prices.
D)selling a product at a price that no one can afford.
E)selling a product at a price that is below its average total cost.

Question

Quizplus · Accepted Answer

Price discrimination refers to selling the same product to different consumers at different prices. The prices may vary based on factors such as the consumer's willingness to pay, the quantity of the product purchased, the time of purchase, the location of purchase, or demographic factors such as age or income. This practice allows the seller to capture more value from consumers who are willing and able to pay a higher price, while still making a profit from consumers who are only willing to pay a lower price.

Price Discrimination Is the Practice of