What are the welfare implications of price discrimination in a market with different consumer segments?

Price discrimination happens when a seller charges different prices to different groups of consumers for the same product. This can be beneficial for businesses because it allows them to maximize their profits by capturing more consumer surplus, which is the difference between what consumers are willing to pay and what they actually pay. However, the welfare implications can be mixed. For example, if a company charges lower prices to students, they can access products they might not afford otherwise, improving their well-being. On the other hand, higher prices for other consumers might lead to a situation where some people cannot buy the product at all, which can decrease overall welfare in the market.