The charging of different prices to different customers for essentially the same product is called:
A)Gouging
B)Penetration pricing
C)Skimming
D)Price discrimination

Question

Quizplus · Accepted Answer

Price discrimination refers to the practice of charging different prices for the same product to different customers. This is done based on factors such as the customer's willingness to pay or their purchasing power. It is not considered gouging as it is a common business practice used to maximize profits. Penetration pricing refers to setting a low initial price for a new product to attract customers, while skimming involves setting a high price for a new product to generate revenue from early adopters.

The Charging of Different Prices to Different Customers for Essentially