1.

Explain: Price Discrimination.

Answer»

Price-discrimination:

  • The policy of a monopolist to charge different prices from customers of different categories/types in order to increase his demand is called price discrimination.
  • Due to absence of competition, the seller can charge different prices on the same product, depending on its use or form.
  • Thus, the seller adopts the concept of price discrimination and earns higher profit. For example, doctor, lawyer, etc. can charge different fees for similar problems


Discussion

No Comment Found

Related InterviewSolutions