Which of the following markets best illustrates the practice of price discrimination?
A)The airline market.
B)The fast-food market.
C)Wheat farming.
D)The personal computer market.

Question

Quizplus · Accepted Answer

The airline market is known for its practice of price discrimination. Airlines use a variety of tactics to charge different prices for the same product, such as offering lower prices for customers who book in advance, use discount codes, or fly during off-peak hours. Additionally, airlines may charge more for a ticket based on factors such as the time of day, day of the week, length of stay, and destination. This allows airlines to maximize their profits by charging some customers a higher price while still filling seats with others who are willing to pay less.

Which of the Following Markets Best Illustrates the Practice of Price