First-degree price discrimination is _____.
A)perfect because it benefits consumers the most
B)called first-degree because it does not apply to resale of products
C)also known as perfect price discrimination
D)the easiest form of price discrimination to implement

Question

Quizplus · Accepted Answer

First-degree price discrimination is also known as perfect price discrimination because it involves the seller charging each individual buyer the maximum price they are willing to pay, resulting in maximum profits for the seller. It is not perfect for consumers because they may end up paying a higher price than they would have in a competitive market. It can also be difficult to implement as it requires the seller to have perfect information about each individual buyer's willingness to pay.

First-Degree Price Discrimination Is _____