Price discrimination is the business practice of a. bundling related products to increase total sales. b. selling the same good at different prices to different customers. c. pricing above marginal cost. d. hiring marketing experts to increase consumers' brand loyalty.

Price discrimination, specifically option b, allows companies to maximize profits by charging different prices to various groups of consumers based on their willingness to pay. For instance, students and seniors often enjoy discounted rates in cinemas and public transport, showing how targeting specific demographics can enhance accessibility while boosting revenues. A fun fact about price discrimination is that it's not just limited to physical products. Digital services, like streaming platforms, often have tiered pricing models, where plans may vary in price based on features offered. This strategy not only caters to diverse consumer preferences but also helps platforms capture a larger market share!