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Question: What is the practice by a monopolist of charging each buyer the highest price he/she is willing to pay is called?

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Solution Summary

This solution briefly explains the practice of price discrimination by monopolists. This is completed in over 60 words.

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It is known as first degree price discrimination. IT is a form of price discrimination in which a seller charges ...

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Sandeep Bardia, MBA
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  • BCom, SGTB Khalsa College, University of Delhi
  • MBA, Rochester Institute of Technology
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