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Dictionary definition: first-degree price discrimination
- Article from:
- A Dictionary of Economics
- Author:
Copyright© A Dictionary of Economics 2002, originally published by Oxford University Press 2002. (Hide copyright information)
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first-degree price discrimination
Price discrimination where consumer are charged the maximum amount they are willing to pay for each unit of a good. This means that the producer obtains all the gains from the good being available, and there is no consumer surplus. Producers generally do not have sufficient ...