When deciding what price to charge consumers, the monopolist may choose to charge them different prices based on the customers'
A)geographical location.
B)age.
C)income.
D)All of the above are correct.

Question

Quizplus · Accepted Answer

A monopolist can use price discrimination to charge different prices to consumers based on their geographical location, age, income, or any other characteristic that affects their willingness to pay. By doing so, the monopolist can extract more value from each customer and increase their profits. This strategy may not be possible for firms operating in a competitive market, but monopolists have the market power to make it work. Therefore, all of the choices are correct.

When Deciding What Price to Charge Consumers, the Monopolist May