In a monopoly market, how does a firm achieve profit maximization through price discrimination while considering marginal revenue and economic efficiency?

In a monopoly market, a firm can maximize its profits by using price discrimination, which means charging different prices to different customers for the same product based on their willingness to pay. This strategy allows the firm to capture more consumer surplus, turning it into additional profit. For example, a movie theater might charge lower prices for children and seniors while charging adults a higher price, maximizing the revenue from each group. The firm considers marginal revenue, which is the additional income from selling one more unit, ensuring that the price set for each group reflects their demand. However, while this can increase profits, it may lead to less economic efficiency, as not all consumers who would benefit from the product at a lower price can access it.