Question

In three to four sentences, define price discrimination and give one example.

Answer 1

Price discrimination is the act of charging different customers different prices for the same good or service like when a man pays full price at a bar when its ladies night and ladies only pay 50%.

Answer 2

Price Discrimination is the practice of selling a specific product at more than one price when the price differences are not justified by cost differences.

i.e. Age based pricing such as charging less for a child's ticket to a movie theatre/amusement park than an adult.

Universities charging more for out-of-state residents.

A doctor charging for services based on patients income.

I hope this helps!