Let the inverse demand function and the cost function be given by P = 50 − 2Q and C = 10 + 2q respectively, where Q is total industry output and q is the firm’s output.   a) First consider first the case of uniform-pricing monopoly, as a benchmark. Then in this case Q = q. Find out the firm’s profit, price and quantity.

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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.