What is meant by price discrimination and why is it important to monopolies?

The purpose of price discrimination is to capture the market's consumer surplus. Price discrimination allows the seller to generate the most revenue possible for a good or service.

Explanation:

Price discrimination happens when a firm charges a different price to different groups of consumers for an identical good or service, for reasons not associated with costs of supply.

The purpose of price discrimination is to capture the market's consumer surplus. Price discrimination allows the seller to generate the most revenue possible for a good or service

Explanation:

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