大学MBA中级微观讲义.pptxVIP

大学MBA中级微观讲义 Chapter Twenty-FiveMonopoly Behavior垄断行为 How Should a Monopoly Price?u So far a monopoly has been thought of as a firm which has to sell its product at the same price to every customer. This is uniform pricing.u Can price-discrimination （差别定价）earn a monopoly higher profits? Structureu First-degree price discrimination u Second-degree price discrimination u Third-degree price discrimination u Bundlingu Two-part tariff Types of Price Discriminationu 1st-degree: Each output unit is soldat a different price. Prices may differ across buyers.u 2nd-degree: The price paid by a buyer can vary with the quantity demanded by the buyer. But all customers face the same price schedule. E.g. bulk-buying discounts. Types of Price Discriminationu 3rd-degree: Price paid by buyers in a given group is the same for all units purchased. But price may differ across buyer groups.E.g., senior citizen and student discounts vs. no discounts for middle-aged persons. First-degree Price Discriminationu Each output unit is sold at a different price. Price may differ across buyers.u It requires that the monopolist can discover the buyer with the highest valuation of its product, the buyer with the next highest valuation, and so on. First-degree Price DiscriminationMC(y)p(y)y$/output unitSell theth unit for $ First-degree Price DiscriminationMC(y)p(y)y$/output unitSell the sell theth unit for $ th unit for $Later on First-degree Price Discriminationp(y)yMC(y)Later on$/output unitSell the sell theth unit for $ th unit for $Finallysell theth unit for marginalcost, $ First-degree Price Discrimination$/output unitThe gains to the monopolist on these trades are:and zero.MC(y)p(y)yThe consumers’ gains are zero. First-degree Price Discriminationp(y)y$/output unitMC(y)So the sum of the gains to the monopolist on all trades is the maximumpossible total gains-to-tradPS First-degree Price Discrimination$/output unitMC(y)The monopolist gets the maximum possible gains from trade.PSp(y)y First-degree