In this lesson, Nick Palazzolo, CPA, demystifies the complex concepts of price discrimination and collusive pricing, explaining them through real-world examples and everyday experiences. He breaks down price discrimination as a strategy where customers are charged different prices for the identical product or service based on what the seller believes they can pay, using memorable examples such as international subscriptions for streaming services. Nick then delves into the shadowy realm of collusive pricing, detailing how suppliers might unlawfully band together to suppress competition and control market prices. By referencing a range of both permissible and illegal scenarios, he sheds light on the nuances of these practices, helping to distinguish between aggressive business strategies and outright market manipulation.
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