Baseball ticket sellers charge a different price for adults and children. Ballpark concession stands charge the same prices for products sold to any customer. The baseball ticket sellers are providing a successful example of

Question

BlackTom AI · Accepted Answer

The question describes a pricing setup where baseball ticket sellers charge different prices for adults and children, while concession stands charge the same prices for all customers. This demonstrates a specific pricing strategy where different consumer groups are charged different prices for the same good or service.

Option 1: near-monopoly. This term refers to a market structure where a single seller dominates the market, often without perfect competition. The scenario given does not focus on market power, substitutes, or barriers to entry; it focuses on price differences across consumer groups, so this option is not addressing the pricing practice described.

Option 2: marketing. Marketing encompasses a broad set of activities aimed at promoting and selling products, including segmentation and positioning, but the particular behavior in the scenario—charging different prices by age group—fits more specifically into a pricing policy than into the broader discipline of marketing as a whole. Therefore, this choice is not the best match for the described practice.

Option 3: the law of one price. The law of one price states that in competitive markets, identical goods should sell for the same price when there are no transportation costs and other frictions. The scenario directly contradicts this principle by showing different prices for the same product based on buyer type, so this option is incorrect.

Option 4: price discrimination. Price discrimination occurs when a seller charges different prices to different groups of consumers for the same good or service, based on willingness or ability to pay, without a corresponding difference in cost. The baseball ticket example—adult vs. child pricing—illustrates this concept clearly, making this option the correct characterization of the behavior described.

Baseball ticket sellers charge a different price for adults and children. Ballpark concession stands charge the same prices for products sold to any customer. The baseball ticket sellers are providing a successful example of

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