Asked by
Brenda Reynolds
on Oct 27, 2024Verified
The practice of selling the same product at different prices to different consumers,without corresponding differences in costs,is:
A) price discrimination.
B) privatizing.
C) monopolizing.
D) output prioritizing.
Price Discrimination
A pricing strategy where a firm charges different prices for the same product or service to different consumers, based on their ability to pay, in order to maximize profits.
Privatizing
The act of moving control and ownership from the government to private entities, including businesses, enterprises, agencies, or public services.
Monopolizing
The act or process by which a single seller gains exclusive control over a market, limiting competition and often leading to higher prices for consumers.
- Gain insight into the essential principles and impacts of price discrimination across markets with monopoly and imperfect competition characteristics.
Verified Answer
KV
Learning Objectives
- Gain insight into the essential principles and impacts of price discrimination across markets with monopoly and imperfect competition characteristics.