Monopolies And Trusts

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The writer's policy was to ask the higher price. Some thought that he was wrong, but there was no evidence that by lowering the price he would reach a large class of people. He believed that at seventy - five cents he reached the class of people who would read these mono- graphs, whereas he could not hope to reach the working people or any very large class of people even at fifty cents.
We have now shown that monopoly causes varia- tions of price from time to time and from place to place ; but
...we have hitherto assumed uniformity at the same time and place. In discussions of monop- oly, such uniformity at one particular time and place is generally assumed. As Professor Walras has well shown, however, monopoly price, if left to itself, is not uniform even at one time and place. Conse- quently, wherever we find uniformity, pressure is shown. Generally there does exist pressure of some 1 08 THE LAW OF MONOPOLY PRICE sort, so that monopoly cannot, without some pre- text, charge one person more than another ; and in the case of the great monopolies with which we are chiefly concerned in the United States, there is a pressure of some sort which at one particular time and place compels a uniform price.

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