Different types of price discrimination

Price discrimination refers to the practice of charging different prices to different groups of customers for the same product or service. Here are some different types of price discrimination:

1. First-Degree Price Discrimination (Personalized Pricing): This is the most extensive form of price discrimination where each customer is charged a unique price based on their willingness to pay. Sellers gather detailed information about each customer's preferences and price sensitivity and adjust prices accordingly. This type of discrimination aims to capture the maximum consumer surplus.

2. Second-Degree Price Discrimination (Quantity Discounts): In this form, prices vary based on the quantity purchased. Sellers ________ __________ __________ ________ ________ _______ ______.
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