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In: Business and Management

Submitted By elleentiong
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Elleen Tiong 450550137
a) The profit-maximising price strategy for Games Inc is to adopt perfect price discrimination.
To implement this pricing strategy, the firm must possess market power to determine the quantity it will produce and price it will charge each customer, and also be able to segment the market for its application to prevent arbitrage or resale. Different customers must have different elasticities of demand and the firm will charge each customer their reservation price to maximise producer surplus and eliminate deadweight loss. This method of discrimination requires the firm to know each of its customers perfectly at each level of consumption, for example the marginal benefit and demand functions for all customers as the firm charges every single customer exactly their marginal benefit. The firm should charge at a price where MB=MC, because as long as MB > MC, the firm will want to keep on producing. However, this scenario is unlikely to happen as the benefits do not outweigh the cost of research to find willingness of each customer.

b) The firm should adopt third degree price discrimination as the firm can observe and distinguish the consumer types. The different valuation in each country must be driven by the price elasticity of demand, and not other factors such as local popularity of firm. The countries must have different elasticities of demand and trading between the countries must be restricted to ensure effective price discrimination.

Figure 1: Third degree price discrimination ( MBAecon 2007)

The firm decides on their output by equating MC=MR to achieve profit maximisation. However price is not the same. By drawing a horizontal line through the MC=MR point until it intersects with the MR curves for A and S and then reading the price off the respective demand curves Da and Ds the price in each segment is determined, Pa and Ps,…...

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