Which of the following statements correctly describe price discrimination? Select all that apply.

Price discrimination is when a seller charges different prices to different customers for the same product or service. This can happen for various reasons, such as differences in customers' willingness to pay, or when businesses want to maximize their profits by capturing more value from each customer. For example, a movie theater might charge lower prices for children and seniors while charging adults a higher price for the same ticket. This strategy allows the theater to attract more customers who might not pay full price while still increasing revenue from those who can afford to pay more. Overall, price discrimination helps businesses cater to different customer needs while optimizing their earnings.