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First Degree Price Discrimination - The monopolist sells different units of the commodity at different prices which differ from person to person.
Second Degree Price Discrimination - The monopolist sells different units of the commodity at different prices. The distinction from the first case is that the people buying the same amount of the commodity pay the same price. Bulk discounts are an example of this practice.
Third Degree Price Discrimination - In this case different prices are charged to different people. But for each person each unit of the commodity costs the same. An example of this is the discounts given to students or senior citizens.
The End of the Productivity Slowdown As computers improved and spread throughout the U.S. economy in 1970's and 1980's economists kept waiting to see the wonders of computing
social welfare ordinal
what is le''chatliers principle?
an introduction
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What are the income and cross elasticities of demand? Why might they be useful? Explain.
Token Privatisation: This implies the sale of 5 per cent or 10 per cent shares of a profit-making public sector enterprise in the market with the objective of obtaining revenue t
Economic Reforms and Reduction of Regional Disparities: Another important objective of development is to reduce regional disparities. Government has been helping the backward
law of diminishing returns
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