Discuss the pricing policy of price discrimination.  Provide the economic reasoning for movie theaters, airlines, and many other businesses to charge customers different prices based on time of the day, age, and purchase dates. Why? Provide an example of a price discrimination for a good or service that you considered unfair. Do you still believe that the discrimination is unjustifiable?

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Price Discrimination

Price discrimination or differential pricing is based on the principle that the seller will charge the buyer a price based on the buyer’s ability and willingness to pay for the product rather than applying uniform pricing for all.