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First Degree Price Discrimination - The monopolist sells different units of the commodity at different prices which differ from person to person.
Second Degree Price Discrimination - The monopolist sells different units of the commodity at different prices. The distinction from the first case is that the people buying the same amount of the commodity pay the same price. Bulk discounts are an example of this practice.
Third Degree Price Discrimination - In this case different prices are charged to different people. But for each person each unit of the commodity costs the same. An example of this is the discounts given to students or senior citizens.
This is a very common methods of forecasting demand. Under this methods a relationship is established between quantity demanded( dependent variable) and independent variables such
A Competitive Short Run Supply Curve of Firm * Observations: - P = MR - MR = MC - P = MC * Supply is amount of output for every possible price. Thus: - If
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We couldn''t find "Bob sold 50 fans at $20 a piece last month. This month he decreased the price to $15 and sold 75. What is the price elasticity of demand for fans
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