In ________, the seller charges different amounts to different classes of buyers.
A) perceived value pricing
B) third-degree price discrimination
C) first-degree price discrimination
D) second-degree price discrimination
E) psychological discounting

Question

Quizplus · Accepted Answer

Third-degree price discrimination is when a seller charges different prices to different classes of buyers, based on factors such as their willingness to pay, demographics, or location. This type of price discrimination is legal and commonly used in industries such as transportation, where prices may be lower for senior citizens, students, or those traveling on weekends.

In ________, the Seller Charges Different Amounts to Different Classes