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Price discrimination is a way for companies to utilise the use of existing capital by charging customers different prices for the same products. However, companies can only do so under a few conditions, such as having some degree of market power and have separate consumer groups. Moreover, there are three types of piece discrimination: the first degree can be done by charging each consumer at different prices; adjusting prices according to the quantity purchased by consumers will be the second degree; where the third degree means to change prices depending on different consumer groups.
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Price Discrimination MC & Essay Questions with answers (GCE A-Level)
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