price discrimination can be successful if there are many sellers
Pricing customers differently for the same commodity or service according to what the vendor thinks they can convince the consumer to accept is a sales strategy known as price discrimination. When a business practises pure price discrimination, they impose the maximum price that each customer will accept.
There are three types of price discrimination: first-degree, second-degree, and third-degree. These degrees are also known by the labels customised pricing, product versioning or menu pricing, and group pricing. Price discrimination is only conceivable when customers from various submarkets are ready to pay different rates for the same good.
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