ECONOMICS
COMPETITION AND MARKET STRUCTURES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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trust-busting
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public disclosure
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price discrimination
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None of the above
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Detailed explanation-1: -Price discrimination is a selling strategy that charges customers different prices for the same product or service based on what the seller thinks they can get the customer to agree to. In pure price discrimination, the seller charges each customer the maximum price they will pay.
Detailed explanation-2: -Price discrimination examples For example, when a consumer purchases airline tickets several months in advance, they will typically pay less than a consumer who purchases a ticket for the same flight two days before.
Detailed explanation-3: -First degree is practiced by lawyers and doctors. ii. Second-degree Price Discrimination: Refers to a price discrimination in which buyers are divided into different groups and different prices are charged from these groups depending upon what they are willing to pay.
Detailed explanation-4: -Price discrimination is the practice of targeting different consumers with different prices. This allows companies to offer lower prices to the most sensitive consumers while charging higher prices to those with more spending power.
Detailed explanation-5: -First Degree Price Discrimination. Second Degree Price Discrimination. Third Degree Price Discrimination. #1 Imperfect competition. #2 Prevention of resale. #3 Elasticity of demand. The Firm. The Consumer.