What is Third degree price discrimination?
Third degree price discrimination refers to the strategy adopted by sellers to offer different prices to different groups of buyers for the same product or service.
The buyers in each group share some common features. For example, they could be of the same nationality, same religion, same sex, same age group, etc.
The difference between buyers in different groups creates a price elasticity of demand that is...
(The entire section contains 216 words.)
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