Question

4. Charging customers different
prices for essentially the same
service is called
A. Price discrimination
B. Supply and demand.
C. Complementary
D. Substitutes.​

Answer 1

Answer:

(a) PRICE OF DISCRIMINATION...

Explanation:

Changing customer different prices for essentially the same service is called a) price of discrimination.

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Answer 2

The correct term for this question is option A: Price discrimination.

• Price discrimination is the correct term for when buyers or clients are charged different rates for the same services or items.
• It is one of the strategies used by market sellers to make a profit.
• The seller divides clients into groups based on how much they value things or how much they require them.
• Based on this belief, which customers can be asked to pay more and which customers can be asked to pay less is determined.
• This concept is based on the elasticities of product demand.
• Hence, it is referred to as price discrimination.