Under monopoly market, if the seller charges different prices from different customers on the basis of paying capacity of the consumer, it is said to be price discrimination of the _______.
first degree
The correct answer is option 3. First-degree price discrimination occurs when a seller charges different prices from each consumer based on their willingness or ability to pay. In this case, the seller is charging different prices to customers based on their paying capacity, which is a characteristic of first-degree price discrimination. The other options refer to different forms of price discrimination, but they do not apply in this case.
Similar Questions
In the ________, the producer can determine the price of the commodity and hence, the producer is said to be the price maker in the market. Maximisation of profits is the sole objective.
In the short run, the monopolist should make sure that the price should not go below ____.
In Monopoly Market equilibrium, the trader gets _______ in the long run (where all factors happen to be variable).
Important Questions from Monopoly
In the ________, the producer can determine the price of the commodity and hence, the producer is said to be the price maker in the market. Maximisation of profits is the sole objective.
In the short run, the monopolist should make sure that the price should not go below ____.
In Monopoly Market equilibrium, the trader gets _______ in the long run (where all factors happen to be variable).
