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Discriminating monopolists are able to charge different prices to different customers. In fact, a perfectly discriminating monopolist is able to charge each customer his exact (personal) reservation price for the item the monopolist sells. Explain why this would be beneficial for the monopolist in terms of his revenue and profit. A graph might help you. (Think about what this would mean for the monopolist's MR curve as you answer this question. Look back at the notes where we discussed the costs and benefits for a monopolist to raising price. What happens to the cost if he is perfectly discriminating?)
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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