Some people believe price discrimination is unfair; others think it “levels the playing field” by adjusting price to people’s ability to pay. Explain an opinion why price discrimination is fair by adjusting prices for people to pay.

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Q: For this discussion, use the following hypothetical scenario as the basis for your response: Your…

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Q: How do firms use information about price elasticity to predict consumer behavior?

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A: Since you have posted a question with multiple sub-parts, we will solve the first three subparts for…

Customary Pricing

There are various types of pricing strategies followed in the market. They are psychological pricing, odd pricing, free onboard pricing, customary pricing, prestige pricing, dual pricing, ruling pricing, negotiated pricing, mark up pricing, etc. each one can be explained as follows: 

Multiple Unit Pricing

“Multiple-unit pricing is a practice where a company offers consumers a lower than unit price if a specified number of units are purchased.”