At its present output a monopolist determines that its marginal revenue is P3 and its marginal cost is P4.50. The monopolist will increase its profits by: a. reducing output and raising price b. increasing both price and output c. reducing both output and price d. raising price while keeping output unchanged

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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.