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Third-degree price discrimination A. Is the practice of posting a discrete schedule of declining prices for different ranges of quantities. B. Occurs when a firm
Third-degree price discrimination
A. Is the practice of posting a discrete schedule of declining prices for different ranges of quantities.
B. Occurs when a firm charges each consumer the maximum price he or she would be willing to pay for each unit of the good purchased.
C. Results in the firm extracting all surplus from consumers.
D. None of the above
The standard answer is D.
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