First-degree price discrimination would allow a firm to charge the maximum possible price for every unit sold.

Name: First-degree price discrimination would allow a firm to charge the maximum possible price for every unit sold.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

First-degree price discrimination, also known as perfect price discrimination, involves charging each consumer the maximum price they are willing to pay for each unit, thus allowing the firm to capture the entire consumer surplus as profit.

First-Degree Price Discrimination Would Allow a Firm to Charge the Maximum