How the concept of elasticity guides decisions in the Price discrimination a monopolist

Explain how the concept of elasticity guides decisions in the Price discrimination a monopolist

Price discrimination a monopolist:
Price discrimination is the monopoly practice of charging different prices to different consumers (or in different markets) for the same product irrespective of cost structure.

Possible only with different elasticities in different markets such that a higher price is charged in the inelastic demand market and a lower price in the elastic demand market.



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