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Inequality in Markets

Price discrim...

Question

Price discrimination may be:
I. personal
II. local
III. according to trade

A

I and III are correct

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B

I, II and III are correct

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C

I and II are correct

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D

II and III are correct

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Solution

The correct option is B I, II and III are correct
Price discrimination is personal when the monopolist firm charges different prices for the same good according to the persons ability.
Price discrimination is local when the monopolist firm charges different prices for the same good according to the location.
Price discrimination is according to trade when the monopolist firm charges different prices for the same good according to the use of the commodity.

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