A discriminating monopoly is a single entity that charges different prices for different consumers. Higher price will be charged for price inelastic consumer and vice versa.
Types of Price Discrimination
i) Personal: Different prices are charged for different individuals (for example the railways give tickets at concessional rate to the "senior citizens" for the same journey).
ii) Geographical: Different prices are charged at different places for the same product (for example, a book sold within India at a price is sold in a foreign country at lower price). On their, China drops its goods in Indian market. As a result, watch and toy industries closed down their business.
iii) On the basis of use: Different prices are charged according to the use of a product (for example lower rates are charged by Tamil Nadu Electricity Board for domestic .useof electricity and higher rates are charged for commercial and industrial use).

Price discrimination is possible only if the following conditions are fulfilled :
i. The demand must not be transferable from the high priced market to the low priced market.
ii. The monopolist should keep the two markets or different markets separate so that the commodity will not be moving from one market to the other market.

The classification of market according to competition is as follows:
a. Perfect competition: Large number of sellers selling homogeneous products.
b. Imperfect competition :
i Monopoly        : Single seller
ii Duopoly         :  Two sellers
iii Oligopoly      : A few sellers selling homogeneous or differentiated products.
iv Monopolistic : Large number of sellers Competition selling differentiated products.

(i) Monopoly is a form of market where there is a single seller selling a particular commodity for which there are no close substitute.
(ii) A monopoly is a one firm Industry. Therefore, a firm under monopoly faces a downward sloping demand curve (or) AR curve, since under monopoly AR falls, as more units of output are sold.
(iii) The monopolist will continue to sell his product as long as his MR > MC.
(iv) He attains equilibrium at the level of output when its MC is equal to MR.
(v) Beyond this point, the producer will experience losses and hence will stop selling.

(i) It is a market structure in which there is only one buyer of a good or service.
(ii) If there is only one customer for a certain good that customer has 'Monopsony' power in the market for that good.
(iii) Monopsony is analogous to monopoly. But monopoly has market power on the demand side rather than the supply side.