Price discrimination is best defined as
A) Charging an excessive price for a product.
B) The charging of different prices by different companies for the same product.
C) The selling of an identical good at different prices to different consumers by a single seller.
D) The selling of differentiated goods to consumers at different prices.

Question

Quizplus · Accepted Answer

Price discrimination is the practice of selling an identical good or service at different prices to different consumers by a single seller. This may be done based on various factors such as consumer demographics, location, time of purchase, and other market conditions. The aim of price discrimination is to increase profits by charging the highest possible price that each consumer is willing to pay. It is a common pricing strategy used by many businesses in various industries.

Price Discrimination Is Best Defined as