3.4.5 - Monopoly Flashcards by Tobey I | Brainscape

Q

What is price discrimination?

A

Price discrimination occurs in a monopoly, when the monopolist decides to charge different
groups of consumers different prices, for the same good or service.

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Q

What are the characteristics of a monopoly?

A

Sole firm (pure monopoly) in the market
All price setting power
Differentiated goods
High barriers to entry
Price discrimination

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Q

A

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