What is called price discrimination?
Just so, what do you mean by price discrimination?
Definition: Price discrimination is a pricing policy where companies charge each customer different prices for the same goods or services based on how much the customer is willing and able to pay. Typically, the customer does not know this is happening.
Additionally, what is an example of price discrimination? Price discrimination occurs when identical goods or services are sold at different prices from the same provider. Examples of forms of price discrimination include coupons, age discounts, occupational discounts, retail incentives, gender based pricing, financial aid, and haggling.
Additionally, what are the 3 types of price discrimination?
Price discrimination is the practice of charging a different price for the same good or service. There are three types of price discrimination – first-degree, second-degree, and third-degree price discrimination.
What is called price discrimination and how a monopolist charges different prices in different sub markets?
Geographical: Refers to price discrimination when the monopolist charges different prices at different places for the same product. This type of discrimination is also called dumping.