February 2016
Beginner to intermediate
500 pages
33h 40m
English
Content preview from Managerial Economics and Strategy, 2/eBecome an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
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Summary
Conditions for Price Discrimination. A firm can price discriminate if it has market power, knows which consumers or groups of consumers are willing to pay more than others for the product, and can prevent customers who pay low prices from reselling to those who are willing to pay high prices. A firm earns a higher profit from price discrimination than from uniform pricing because (a) the firm captures additional consumer surplus from customers who are willing to pay more than the uniform price and (b) the firm sells to some people who would not buy at the uniform price.
Perfect Price Discrimination. To perfectly price discriminate, a firm charges each customer the maximum each is willing to pay for each unit of output. The firm captures ...
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