What Is Perfect Price Discrimination and Why Do Economists Believe

question 82

Essay

What is perfect price discrimination and why do economists believe that no firm is able to practice perfect price discrimination?

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Definitions:

Model Guidelines

Prototype or standard guidelines used as a reference point or example in a particular field or industry.

Represent

To act on behalf of another person or group in a legal setting or to depict or portray something in a specified manner.

Court

An institution where legal disputes are resolved through the adjudication process by judges and sometimes juries.

Judge

An official appointed to decide cases in a court of law.