If a Market Is Controlled by One Perfect Price Discriminator

question 23

Essay

If a market is controlled by one perfect price discriminator who is able to charge each consumer the highest price that consumer is willing to pay,the seller will produce output until the price paid by the last consumer is equal to the marginal cost of making the good.That is,the price of the last good equals the marginal cost of making the good.If welfare is measured as consumer surplus plus producer surplus,compare this market structure to a competitive market in terms of efficiency and equity.

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Definitions:

Corporate Brand

A corporate brand represents the collective identity, values, and reputation of a company, as perceived by its customers, employees, and stakeholders, influencing its market positioning and consumer trust.

Social Responsibility

The obligation of an individual, group, or organization to act for the benefit of society at large, balancing profit-making activities with activities that benefit the community.

Company Name

The legally registered name under which a company operates and is known by its customers and the public.

Chief Communications Officer

A senior executive responsible for managing and directing an organization's internal and external communications strategies and efforts.