Fill in the Blank QuestionFill in the blank question.Price , or charging different prices to different consumers, is widely practiced in the US economy.

The concept you are referring to is known as "price discrimination."

Price discrimination involves charging different prices to different consumers for the same good or service, often based on varying levels of willingness to pay. This practice is commonly seen in various industries, including airlines, entertainment, and retail, where prices may vary based on factors such as time of purchase, customer demographics, or purchase quantity. The goal of price discrimination is to maximize profit by capturing consumer surplus and making sales to different segments of consumers based on their specific price sensitivities.

In summary, the completed sentence would read: "Price discrimination, or charging different prices to different consumers, is widely practiced in the US economy."