Discriminatory pricing occurs when sellers agree informally or formally to set floor prices below which they will not sell on auction items.
The minimum wage and farm price supports are two instances of price floors. If a price ceiling is enforceable, there will be a shortage if suppliers do not create enough products to satisfy demand. If a price floor is broken, it causes a glut since suppliers produce more things than there is demand for.
In "uniform price" auctions, the cut-off price at which the market settles the issue is the same for all successful bidders. The issue announcement notification provides ample prior notice of the auction process.
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