In this article we will discus about:- 1. Definition of Price Discrimination 2. Types of Price Discrimination 3. Conditions 4. Degrees. Definition of Price Discrimination: Price discrimination implies charging different prices from different customers or for different units of the same product. In the words of Joan Robinson – “The act of selling the same […]
Price Discrimination under Monopoly: Definition, Types, Conditions and Degrees | Economics
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Difference between Monopoly and Perfect Competition | Economics
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Difference between Monopoly and Perfect Competition! 1. Number of Buyers and Sellers: In the perfectly competitive market the number of buyers and sellers is very large. There is perfect competition among them. Price is determined for the entire industry by the forces of demand and supply. All firms have to sell their product at that […]
Pricing Methods in Managerial Economics: Top 7 Methods
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The following points highlight the seven main methods of pricing policies. The methods are:- 1. Marginal Cost Pricing 2. Limit Pricing 3. Market Skimming Pricing 4. Penetration Pricing 5. Bundling Pricing 6. Peak Load Pricing 7. Internet Pricing Models. Policy # 1. Marginal Cost Pricing: Social welfare is maximum or, in other words, economic efficiency […]