Question

What is meant by price discrimination in monopoly?

Options

• Charging one uniform price to all buyers

• Charging different prices because production cost is different

• Charging different prices for the same product due to demand, place, time, or use

• Charging a price equal to marginal cost

Answer 1

Charging different prices for the same product due to demand, place, time, or use

Explanation:

Price discrimination means the monopolist sells the same product at different prices to different buyers or markets for non-cost reasons.