Essay questions on price discrimination - Dinesh Armoury.
Price Discrimination. Get help with your Price discrimination homework. Access the answers to hundreds of Price discrimination questions that are explained in a way that's easy for you to understand.
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With price discrimination, (the bottom diagram), the demand curve is divided into two segments (D1 and D2). A higher price (P1) is charged to the low elasticity segment, and a lower price (P2) is charged to the high elasticity segment. The total revenue from the first segment is equal to the area P1,B,Q1,O.
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The majority of consumers exposed to price discrimination pay a price well above the marginal cost. There are many forms of price discrimination where the poor are in fact disadvantaged for example with greater prices for basic products at motorway service stations. This price discrimination is harmful to low income people.
In pure price discrimination, the seller will charge each customer the maximum price that he or she is willing to pay. In more common forms of price discrimination, the seller places customers in groups based on certain attributes and charges each group a different price. Price discrimination involves market segmentation.
Price discrimination can be categorized into three levels; first degree price discrimination, second degree price discrimination and third degree price discrimination (Mankiw, 2008, p. 328). In first degree price discrimination, the seller or service provider has to identify the position of each customer on the demand curve and then use the information to impose a specific price.