​What is the term used for pricing strategy in which a firm charges different customers different prices for the same product?​

Correct option is A

• The correct answer is (A) Price discrimination.
• Price discrimination is a marketing tactic where customers are charged differently for the same good or service depending on what the vendor believes they can persuade them to accept.
• When a company engages in pure price discrimination, they charge the most expensive amount that any given customer will pay.
• In more typical forms of price discrimination, the provider divides customers into groups based on particular characteristics and assigns a different price to each group.
• When a vendor discriminates on price, every consumer pays a different price for the same commodity or service.
• The corporation violates first-degree discrimination by obtaining the highest price for each consumed unit.
• Discounts on goods or services when purchased in quantity are seen as second-degree discrimination, whereas charging different rates to certain customer groups is regarded as third-degree discrimination.

Additional Information:

• Two Part Pricing: ​In two-part pricing, which is also known as the two-part tariff, customers are charged both an admission fee (set price) and a usage cost (per-unit price). A phone contract with a fixed monthly fee and a minute-by-minute use fee is an illustration of two-part pricing.
• Price mechanism: ​A price mechanism in economics is the way that profits from goods or services influence supply and demand, primarily through the price elasticity of demand. A price mechanism has an impact on price-haggling buyers and sellers.
• Price elasticity: ​The relationship between percentage change in product's quantity demanded and the percentage change in price is known as price elasticity of demand. It helps economists comprehend how supply and demand shift in response to the changes in product's price.