Price discrimination that violates antitrust or price-fixing laws or is based on a person's race, religion, nationality, or gender is illegal. What is perfect price discrimination? Perfect pricing discrimination is another name for first-degree price discrimination. A corporation will charge as much...
Price discrimination, as it is commonly practiced, is not illegal in the way that discrimination based on race, religion, gender, and similar factors is. Types of Price Discrimination There are three types of price discrimination: first-degree or perfect price discrimination, second-degree, and th...
Price discrimination is often used by businesses. Explain the conditions under which price discrimination is practiced and the economic consequences of price discrimination? (a) Define and explain perfect competition, monopoly, and oligopoly. (...
Under complete (perfect, first-degree)price discrimination, each unit is sold at the reservation pr...
What is a "price taker" firm? Perfect Competition : Perfect competition involves the presence of large number of buyers and sellers in the market having perfect market knowledge. The perfect competition sellers sell identical goods. Answer and Explanation:1 ...
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The most prevalent form of wage discrimination can be seen in gender. Another notable piece oflegislationagainst wage discrimination is theEqual Pay Act. Under the Equal Pay Act, employers must give men and women equalivant and fair pay for equal work. Jobs do not need to be identical, howev...
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It’s illegal if race, sexuality, gender, or religion are factored in; price discrimination is also a no-go if it violates antitrust laws set up to ensure fair competition in an open market. Dynamic pricing advantages There are many advantages to a price structure as flexible and fluid as...
Dynamic pricing refers to charging different prices for a product or service, depending on who is buying it or when it sells.