In a monopolistic market, how does a firm that practices price discrimination maximize its profits compared to one that does not, considering the demand curve for its product?

In a monopolistic market, a firm that practices price discrimination can charge different prices to different customers based on their willingness to pay. This means that the firm can capture more consumer surplus, which is the difference between what consumers are willing to pay and what they actually pay. For example, if a movie theater charges $10 for a standard ticket but offers student tickets for $7, it can attract both students and regular moviegoers, maximizing its profits from both groups. In contrast, a firm that does not practice price discrimination would have to charge a single price, potentially losing sales from customers who would pay more or less for the same product. By tailoring prices, the discriminating firm can sell more units and increase overall revenue compared to a firm with a single price.