Monopoly is always in an advantageous position to fix the price of a commodity in a way it likes another exploit the society. It is very essential that the society should be saved from exploitation. This can be done only when the state interferes and for this some measures are always taken by the state. Some of important measures are: [...]
Get the answer of: Why is there no Supply Curve under Monopoly? The supply curve is relevant for a price-taker. There is no so supply curve of a price-maker. This is so because when a firm faces a downward sloping demand curve, there is no unique relation between the price that it charges and the quantity that it sells. In [...]
'Discriminating monopoly' or 'price discrimination' occurs when a monopolist charges the same buyer different prices for the different units of a commodity, even though these units are in fact homogeneous. Such a situation is described as "perfectly discriminating monopoly". It is more usual, however, to find that a monopolist sells identical products to different buyers at different prices. Discrimination between [...]