The practice of charging different prices to different consumers of the same product is called
A)monopolistic pricing
B)unit pricing
C)price discrimination
D)elasticity pricing
E)marginal cost pricing

Question

Quizplus · Accepted Answer

Price discrimination is the practice of charging different prices for the same product based on the consumer's ability and willingness to pay. The goal is to maximize profits by charging higher prices to consumers who are willing to pay more and lower prices to those who are more price-sensitive. This is a common strategy in industries like airlines, where different consumers have different travel needs and budgets.

The Practice of Charging Different Prices to Different Consumers of the Same