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In the diagram below, and using a short paragraph, indicate how 1 st degree price discrimination would work. In your diagram, clearly indicate the consumers'
In the diagram below, and using a short paragraph, indicate how 1st degree price discrimination would work. In your diagram, clearly indicate the consumers' surplus, deadweight loss, and profit contribution once 1st degree price discrimination has taken place. In a paragraph, explain why it would make sense to sell some units below their average cost.
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