___________ refers to charging different prices to different customers for essentially the same product.
A) Gouging
B) Price discrimination
C) Skimming
D) Penetration pricing

Question

Quizplus · Accepted Answer

Price discrimination refers to the practice of charging different prices to different customers for essentially the same product. This is often done to segment the market and capture different levels of consumer surplus from different groups of buyers. Gouging refers to charging exorbitant prices in a time of crisis or scarcity. Skimming refers to charging a high price initially and then gradually lowering it over time. Penetration pricing refers to charging a low price initially to gain market share and then gradually raising it over time.

___________ Refers to Charging Different Prices to Different Customers for Essentially