At Westonci.ca, we make it easy for you to get the answers you need from a community of knowledgeable individuals. Join our platform to connect with experts ready to provide precise answers to your questions in different areas. Get detailed and accurate answers to your questions from a dedicated community of experts on our Q&A platform.
Sagot :
The practice of charging different prices to different consumers for the same product is called price discrimination.
Price discrimination is a selling strategy which charges the customers different prices for the same product or service. This discrimination is based on what the seller thinks they can get the customer to agree to.
This situation of price discrimination prevails under monopoly market as they can charge different prices from different buyers here easily. This strategy is used by businesses in order to maximize revenue by charging customers different prices based on their willingness to pay.
Hence, businesses and companies practice price discrimination in order to maximize their profits.
To learn more about price discrimination here:
https://brainly.com/question/17272240
#SPJ4
Thank you for your visit. We are dedicated to helping you find the information you need, whenever you need it. We appreciate your time. Please come back anytime for the latest information and answers to your questions. Your questions are important to us at Westonci.ca. Visit again for expert answers and reliable information.
