A firm faces the demand for its product,
, as shown in the figure below. It produces under conditions of constant costs in the long run, and LMC = LAC = $12 per unit. Answer Questions . 
-If the firm can practice first-degree price discrimination, it can make a maximum profit of
Definitions:
Dividend Growth Model
The Dividend Growth Model is a method used to estimate the value of a company's stock by assuming a constant growth in dividends per share.
Cost of Equity
The return a company theoretically pays to its equity investors to compensate them for the risk they took by investing their capital.
Growth Rates
Measures of how much a particular variable, such as population, sales, or GDP, has increased over a specified period of time.
Treasury Bill Rate
The Treasury bill rate is the yield or return on investment for U.S. government debt securities known as Treasury bills, which have short-term maturities.
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