A monopolist faces the following demand curve, marginal revenue curve and total cost curve for its product: Q = 400 - 2P MR = 200 - Q TC = 10Q 11. Refer to scenario 1. What is the profit-maximising level of output? [1] 0 [2] 10 [3] 190 [4] 200 [5] 400

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Price Discrimination

Price discrimination or differential pricing is based on the principle that the seller will charge the buyer a price based on the buyer’s ability and willingness to pay for the product rather than applying uniform pricing for all.