Asked by
Allie Warren
on Oct 27, 2024
Verified
When a monopolist practices price discrimination as opposed to setting a single price,the monopolist sells less but increases profits.
Price Discrimination
A pricing strategy where identical or substantially similar goods or services are sold at different prices by the same provider to different consumers.
Single Price
A market condition where all units of a particular good or service are sold at the same price to all buyers.
- Learn about the principle and outcomes of price discrimination within monopolies and oligopolies.
Verified Answer
TS
Learning Objectives
- Learn about the principle and outcomes of price discrimination within monopolies and oligopolies.
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