Play as a monopolist in the pharmaceutical industry and decide how many pallets of pharmaceuticals to ship to the market.
Key Learning Objectives:
- Students review the effects of market quantity on price and reinforce concepts like thinking on the margin.
- In the absence of price discrimination, the uniform price case will lead to a sub-optimal price for both markets.
- Explore the welfare implications of third-degree price discrimination in economics by showing how, in the absence of third-degree price discrimination, a low demand group may be priced out of the market.
- Main Courses: microeconomics; managerial economics; intermediate microeconomics; industrial organization
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