Question

how are prices fixed by the Seller or producer

Answer 1

Price discrimination appears in a monopoly market.

Price discrimination implies charging different prices for the same product from different buyers at the same time. Because a monopolist is a single seller of a good in the market, he enjoys the freedom to exercise price discrimination.

Answer 2

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$\rm{\boxed{Producers:}}$

=> Producer fixes the price taking into consideration of the following:-

• The expenditure on raw material.

• The wages and salaries paid for production.

• The interest on the loan taken by him.

• Other overhead charges.

• Some extra amount as profit.

$\rm{\boxed{Sellers:}}$

=> Sellers fixes the price taking into consideration of the following:-

• The purchase price.

• His maintenance and expenditure.

• Some extra amount as profit.

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