Monopolies face tradeoffs between price and the quantity that is traded or sold. There are two price setting potentials that generate different tradeoffs, which are single price and price discrimination.
Single price monopoly is a firm that has to sell each unit of its output for the same price to all of its customers. Price discriminating monopoly is when a firm that vends different units for different prices that are not related to cost differences. Airlines, for instance have different prices for the same flights. If a firm price discriminates it makes the impression that it is doing so in the favor of their customer(s) when in fact it is charging each group of customers the greatest price they can get them to pay in order to increase their profit.
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