Which option best describes the concept of price discrimination?

Show Answers

Setting prices differently depending on a customer's raceApplying varied prices due to differences in production expensesAdjusting prices according to variations in service costsOffering the same product, with identical quality and unit cost, at varying prices to different customers

Explanation

Price discrimination refers to selling an identical product, having the same quality and unit cost, at different prices to various buyers. It is not based on race, production cost differences, or service cost variations.