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Perfect Price Discrimination
Perfect price discrimination occurs when a seller charges every consumer the maximum they are willing to pay, capturing the entire consumer surplus as profit.
Marginal Revenue
The additional revenue that a company gains by selling one more unit of a product or service.
Demand Curve
A graph showing the relationship between the price of a good and the quantity demanded, typically downward sloping.
Intertemporal Price Discrimination
Practice of separating consumers with different demand functions into different groups by charging different prices at different points in time.
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