In this article we will discuss about the conditions, degrees and techniques of price discrimination under monopoly. Answer 1. Price Discrimination in Monopoly: Price discrimination may be (a) personal, (b) local, or (c) according to trade or use: (a) Personal: It is personal when different prices are charged for different persons. (b) Local: It is […]
Price Discrimination under Monopoly: Conditions, Degrees and Techniques (6 Answers)
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Price and Output Determination under Monopoly (6 Answers)
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In this article we will discuss about price and output determination under monopoly. Answer 1. Price-Output Determination under Monopoly: A firm under monopoly faces a downward sloping demand curve or average revenue cum. Further, in monopoly, since average revenue falls as more units of output are sold, the marginal revenue is less than the average […]
Characteristics and Features of Oligopoly (6 Answers)
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In this article we will discuss about the characteristics and features of oligopoly. Answer 1. Characteristics of Oligopoly: The main characteristics of an oligopolistic market can be discussed as follows: 1. No. of Firms or Sellers: One of the basic features of oligopolistic market structure is the presence of only a fewer firms. If the […]