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Price Discrimination

QuestionAnswer
Define Price Discrimination? is when goods and services are sold to different consumers at varying ratios between marginal cost and price.
What are the conditions necessary for price discrimination to take place? Monopoly Power,Separation of Markets,It must be possible to differentiate between consumers with different PEDs,Characteristics:Consumer ignorance,consumer indifference, consumer attitude.
List the degrees/types of Price Discrimination? First Degree, Second Degree, Third Degree.
Created by: deborahh
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