ABSTRACT
In this chapter, the author begins with monopolised industries to which entry can be restricted. Discriminating power will sometimes exist alongside of monopolistic power, and, when it does, the results are affected. If the monopolist had an absolutely free hand in the matter, the division he would choose would be such that the lowest demand price in sub-market. He proposes to set out a series of examples under each of the heads just distinguished. The author assumes that the quantity demanded in each sub-market depends only on the price ruling in that sub-market. Clearly, therefore, a monopolist cannot hope to find a series of sub-markets that conforms to his ideal altogether. He finds one in which only a comparatively small number of the demand prices embraced in the first sub-market are lower than the highest demand price of the second sub-market, and so on throughout all the sub-markets.
