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Price discrimination is the process by which firms charge different prices for similar products in different markets.
Price discrimination is experienced all over. For example the price of a 500ml coke bottle differs all over in the United states, although in small variations. As you move to other continents the price variations becomes even greater.
Price discrimination is also seen in flactuating train prices depending on the time
Advantages of price discrimination to the firm
-Assists in market segmentation through prices.
-Maximization of profits.and increased revenue
Advantages of price discrimination to consumer.
- Availability of goods and relatively fair prices depending on location.
-reduced competition for goods and services as Price discrimination is one way to manage demand
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