price-discriminating monopoly firm will tend to charge a higher price to customers with a greater willingness to pay than it does to customers with a lower willingness to pay.

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Social Studies

Jayden Higgins

12 January, 16:46

price-discriminating monopoly firm will tend to charge a higher price to customers with a greater willingness to pay than it does to customers with a lower willingness to pay.

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Cooper Hurst · Answer 1

They will charge higher prices because they know they are the only place to purchase the item. When companies have competition it eliminates the monopolies and makes it more fair for the consumer. As a country we always want companies to be in competition and avoid monopolies