As a student, you are sometimes charged a lower price to gain entrance into a sporting event or a movie. by doing so, you are benefiting from the pricing practice known as price discrimination
Generally, A microeconomic pricing technique known as price discrimination occurs when an identical or essentially equivalent product or service is offered for sale at a price that differs from market to market while being provided by the same source.
Economists have identified three prerequisites that need to be satisfied prior to the occurrence of pricing discrimination.
To begin, the organization must have a significant enough presence in the market. Second, it has to determine the varying levels of demand that are caused by the various situations or categories of customers.
Thirdly, the company must be able to prevent its product from being resold from one customer group to another in order to safeguard its intellectual property.
In conclusion, When you go to the theater or to a sports event as a student, you may find that you are eligible for a discount on the ticket price. You will be able to take advantage of the pricing strategy known as price discrimination if you proceed in this manner.
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