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What is meant by price discrimination?
Increase in price of a commodity over time
A situation where the same product is sold to different consumers for different prices
Subsidization of a product by the Government to sell it at a lower price
General decrease in price of a commodity over time
When different consumers pay different prices for the same product, this situation is known as price discrimination. At times Government also follows this by taking lower prices from the poor for its services and higher prices from the rich.
By: Ketan Garg ProfileResourcesReport error
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