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FIRST-DEGREE PRICE DISCRIMINATION: A form of price discrimination in which a seller charges the highest price that buyers are willing and able to pay for each quantity of output sold. This is also termed perfect price discrimination because the seller is able to extract ALL consumer surplus from the buyers. This is one of three price discrimination degrees. The others are second-degree price discrimination and third-degree price discrimination.
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Lesson 20: Oligopoly | Unit 3: Behavior
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Page: 13 of 24
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- More on merger.
- A merger is the consolidation of two separately-owned businesses under single ownership.
- A merger among firms in the same industry formalizes cooperation well beyond that of an explicit cartel.
- A merger is the ULTIMATE in cooperation.
- Mergers are common practice among oligopoly firms and don't generally violate antitrust laws.
- To see why, consider the three standard types of mergers.
- Horizontal merger
- Vertical merger
- Conglomerate merger
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AVERAGE COST The opportunity cost incurred per unit of good produced. This is calculated by dividing the cost of production by the quantity of output produced. While average cost is a general term relating cost and the quantity of output, three specific average cost terms are average total cost, average variable cost, and average fixed cost. A related cost term is marginal cost.
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RED AGGRESSERINE
[What's This?]
Today, you are likely to spend a great deal of time going from convenience store to convenience store seeking to buy either a box of multi-colored, plastic paper clips or several orange mixing bowls. Be on the lookout for malfunctioning pocket calculators.
Your Complete Scope
This isn't me! What am I?
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General Electric is the only stock from the original 1896 Dow Jones Industrial Average remaining in the current index.
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"All labor that uplifts humanity has dignity and importance and should be undertaken with painstaking excellence. " -- Martin Luther King Jr., civil rights leader
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CBA
Cost Benefit Analysis
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