A single-price monopolist is currently producing an output level where price equals marginal cost and profits are positive. To maximise profits, this monopolist should... a. Reduce price and let production adjust to the new price. b. Decrease production and increase price. c. Not change his output level, because it is currently earning profits. d. Increase production and reduce price. e. Produce zero output. Clear my choice

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Price Discrimination

Price discrimination or differential pricing is based on the principle that the seller will charge the buyer a price based on the buyer’s ability and willingness to pay for the product rather than applying uniform pricing for all.