Question

Mention any two types of price discrimination.

Give the various types of Discriminating Monopoly.

Answer 1

1. Personal Price Discrimination: When different consumers are charged different prices for the same goods, this is known as personal price discrimination. For instance, a physician may charge wealthy and impoverished people differently for the same procedure.
2. Geographical Price Discrimination: When a monopolist practices geographical price discrimination, they charge varying prices for the same commodity in various markets. It also covers dumping, which occurs when a producer sells the same good at one price at home and another price overseas.
3. Price Discrimination according to Use: Price discrimination according to use occurs when a monopolist sets different prices for the various uses of the same good.