3.4 Market structures Flashcards
1
Q
Define price discrimination
A
charging different consumers different prices for the same good or service.
2
Q
Define first degree price discrimination
A
selling the product at the exact price consumers are willing to pay
3
Q
Define second degree price discrimination
A
prices varying by quantity sold (bulk purchase discounts) or time of purchase (peak time prices)
4
Q
Define third degree price discrimination
A
charging different prices to groups of customers (sex, income, age, demand)
5
Q
A
6
Q
A
7
Q
A
8
Q
A
