Price discrimination is charging consumers different prices for the same good based on individual characteristics of consumers, membership in an identifiable subgroup of consumers, or on the quantity purchased by the consumers. If a monopoly charges higher prices to consumers who buy smaller quantities than to consumers who buy larger quantities, then the monopoly's profits are larger than under single-price monopoly. consumer surplus is larger than under single-price monopoly. the monopoly's profits are larger than under perfect price discrimination. social welfare is larger than under perfect competition