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- Subject
- Monopolyeconomics-mcqs › monopoly
- Published
- 30 May 2019
- Last updated
- 28 May 2026
Which option best describes the concept of price discrimination?
Multiple choice question for Monopoly. Select an option, then review the explanation below.
Explanation
Price discrimination refers to selling an identical product, having the same quality and unit cost, at different prices to various buyers. It is not based on race, production cost differences, or service cost variations.
More Monopoly MCQs
Practice related questions from the same subject.
- 1.In contrast to a perfectly competitive market, what is a monopolist more inclined to do?
- 2.In a pure monopoly market, how does the price compare to the marginal revenue?
- 3.What action should a monopolist take when marginal revenue is greater than marginal cost?
- 4.What is the likely impact on production costs if a natural monopoly is divided into several smaller companies by regulators?
- 5.What is a common outcome of public ownership in natural monopolies?