Question

what is your understanding of price discrimination?

Answer 1

Price discrimination is a pricing strategy, which a marketer or seller use to charge differentiated price to identical or similar products or services in different market areas. In simple terms, seller charges different prices to the same and identical Products or services to different customers and try to get as much profit as possible. It can be prevailed in monopolistic competition, and when the seller is able to sell the product at differentiated prices by dividing his market into separate parts only if it is imperfect.