What is a monopoly of discrimination prices?
Price discrimination monopoly is an economic term that is used with reference to the ability of a particular category of the company to apply different fees for its customers or consumers for consumption of their goods or services. This means that the company concerned is able to apply a form of influence that it can use as a means to indicate the price of good up or down as a means to indicate the price of good or down. This power to determine the price in this way is mainly caused by a monopoly, which means that the company has a high degree of impact on the final determination of the product or service because of the fact that it has the right to exclude or production of the item. This may be due to the government's intervention, or it could be the result of something, such as holding a patent or copyright that the company allows you to produce and sell the product solely.
Pricing Discrimination means mainly that the company will assess various categories of its consumer baseY with the intention of studying their habits and economic situation. The knowledge of this analysis will allow such a company to develop the price discrimination of the monopoly, which is aimed at ensuring that the company is able to satisfy the needs of the segmented market while still maximizing its profit. An example can be seen in the case of a company that produces designer clothing and accessories. In this type of case, the company could build its brand on the basis of the exclusivity of its product, which means that the products are focused on more exclusive clientele, which was focused on their deep pockets. Since the company wants to make the most profit as possible, monopoly price discrimination can be used to sell products.
In this case, clothing can be sold to some places at a very high price based on the assumption that people who live there are mostly very rich. The same clothing can also be sold with a discount to another market whereIt is assumed that consumers are less rich, but are still able to pay a reasonable amount for clothes. The key to the success of the price discrimination is to ensure that it has introduced specific checks that make it difficult for some of the consumers who can be aware of the differences in prices for buying clothes on the cheaper market and continue to sell them for profit on the market.