Asked by
Bryce Figures
on Dec 12, 2024Verified
A practice whereby a seller charges different prices to different consumers of the same product or service is called
A) price discrimination.
B) oligopolistic pricing.
C) stay-out pricing.
D) monopolistic pricing.
Price Discrimination
A pricing strategy where a seller charges different prices for the same product or service to different customers, based on what the seller believes each customer will pay.
Oligopolistic Pricing
A pricing strategy adopted by companies in an oligopoly, where a few firms dominate the market and prices are often influenced by the actions of competitors.
Monopolistic Pricing
This refers to the practice by a monopolist to set prices higher than in competitive markets because they control a large portion of the market for a particular good or service.
- Gain insight into the notion of price discrimination and the conditions that must be met for its implementation.
Verified Answer
LQ
Learning Objectives
- Gain insight into the notion of price discrimination and the conditions that must be met for its implementation.