Question

Price discrimination is possible in:
a. monopoly
b. monopolistic competition
c. oligopoly
d. Perfect competition​

Answer 1

Answer: a. monopoly

Price discrimination is possible in monopoly.

• Monopoly:

Mono means "single" and "poly" means "seller". In simple terms, monopoly market has a single seller controlling the whole market supply.

• Price Discrimination

Price discrimination is one of the important feature of Monopoly market.

Monopolist is a price maker, that is he can set different prices for his products to different consumers, place wise, time wise and use wise.

He follows the technique of price discrimination to maximize his turn over.

For example, Railways provide the railway tickets at concessional rate to senior citizens and school going students.

Answer 2

Answer:

⍟︎ Price discrimination is possible:

➠ Monopoly.

Extra Shots :-

Monopoly :

• The word Monopoly has been derived from the combination of two words i.e., 'Mono' and 'Poly'. Mono refers to a single and play to control.
• Monopoly is a market situation in which there is a single seller.

Features of monopoly :

1. No close substitutes
2. Monopoly is also an industry
3. Price maker.