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Forum: The Business World 02-10-2009
Replies: 11
Views: 10,782
Posted By Leen
Re: Question on price discrimination!

Elasticity of demand does matter when it comes to price discrimination. You would like to raise price more for people with inelasticity demand than people with very elastic demand. Like in the...
Forum: The Business World 02-10-2009
Replies: 11
Views: 10,782
Posted By Leen
Re: question on price discrimination!

price elasticity
From wiki:
In economics, elasticity is the ratio of the percent change in one variable to the percent change in another variable. It is a tool for measuring the responsiveness of...
Forum: The Business World 01-10-2009
Replies: 11
Views: 10,782
Posted By Leen
Re: question on price discrimination!

Even if you are the monopoly, you can still price-discriminate in order to maximize your profit. For example, if Malboro is the monopoly for cigarettes, it can still sell $50 to the chain smoker and...
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