CBSE Class 11-commerce Answered
My book says that price discrimination exists in monopoly. However all other websites and videos say that price discrimination doesn't exist in monopoly. Which one is correct?
Asked by fishtailfever | 20 Feb, 2020, 09:43: AM
Expert Answer
Yes Price discrimination exists in Monoploy. It is one of the most important features.
This is beacuse since the monopolist is the price maker as he is the single seller in this way he decides the price in the market.
Since the motive of the monopoly firm is to earn profit and there are no close substitues so he doesnot face competition, Therefore he may opt for price discrimination where he charges different prices for his product from different consumers at the same time.
Answered by Christina | 20 Feb, 2020, 11:07: AM
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