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Price discrimination is based on the idea that each customer has his or her own maximum price he or she will pay for a good. If a monopolist sets the good's price at the highest maximum price of all the buyers in the market, the monopolist will only sell to the one customer willing to pay that much. If the monopolist sets a low price, the monopolist will gain a lot of customers, but the monopolist will lose the profits it could have made from the customers who bought at the low price but were willing to pay more.
Price discrimination recognizes that groups of consumers are willing and able to pay different amounts for a good. (gradpoint)
What else can I help you with?
Why would a firm practice price discrimination?
price discrimination allows companies to defend
Why do companies practice price discrimination?
Companies practice price discrimination in order to maximize their profits by charging different prices to different customers based on their willingness to pay. This strategy allows companies to capture more value from customers who are willing to pay higher prices, while still attracting price-sensitive customers with lower prices.
Racial discrimination that results from practice rather than law is called?
Racial discrimination that results from practice rather than law is called de facto discrimination. De facto means in fact or in effect.
What is the policy to practice racial segregation and discrimination?
apartheid
What does Racial discrimination that results form practice rather than law is called?
De facto discrimination
What is nondiscriminatory practice?
Non discriminatory practice is practice which avoids discrimination and instead values diversity and encourages multiculturalism and individuality.
What has the author Harold S Lewis written?
Harold S. Lewis has written: 'Civil rights law and practice' -- subject(s): Civil rights 'Employment discrimination law and practice' -- subject(s): Law and legislation, Discrimination in employment 'Civil rights and employment discrimination law' -- subject(s): Law and legislation, Discrimination, Discrimination in employment
What do Business companies do about discrimination?
They try to keep just on the legal side of the discrimination laws and then call it something else when they do discriminate unfairly.
The antonym of discrimination?
One antonym of the word discrimination is impartiality.
What is the practice of being treated unfair and unequal towards a particular group?
Discrimination
How should the organizations position be in response to a non-discrimination issues?
Organizations should make it clear that they do not support, condone or practice any type of discrimination. They should thoroughly investigate any accusations of discrimination.
Discrimination that is not legally sanctioned is known as what?
Discrimination that is not legally sanctioned is known as De Facto discrimination. It is where the discriminatory practice is not built into the law but into the practices of government, an organization, or society.
