When does price discrimination take place? Group of answer choices A monopoly enters a market with high-income customers. A business conceals its pricing policies. A business charges different prices to different customers based on their willingness to pay.

When does price discrimination take place? Group of answer choices A monopoly enters a market with high-income customers. A business conceals its pricing policies. A business charges different prices to different customers based on their willingness to pay.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

When does price discrimination take place?

Group of answer choices

A monopoly enters a market with high-income customers.

A business conceals its pricing policies.

A business charges different prices to different customers based on their willingness to pay.

Definition Definition Pricing strategy based on the principle that the seller will charge the buyer a price based on the buyer’s ability and willingness to pay for the product rather than applying uniform pricing for all.

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