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- Defining Microeconomics –
It is a division in economics that studies the decision making power of an individual, firm or and industry. It does get applied to all market where there are demand and supply of any goods and services to make economy work. Now, there is a part where in Microeconomics known as Price discrimination that needs better and in depth understanding. Thus, is explained very well by our expert team as:
- Price discriminations –
Second Degree Price Discrimination assignment help team defined it as, the market when a single provider has different market prices for the same goods and services to a different array of consumers. It is also said to be there when the same price is charged from the consumer in different areas, where the cost of production varies.
It has a type named as Second Degree Price Discrimination where a firm recognises two or more groups that have different elasticity of demand that are based on the amount of quantity that are purchased. So, here a seller is free to charge a high price per unit for lesser sold units and lower price per unit for bigger purchased quantities. It is basically practicing to put up a distinct schedule of fading prices for different range of qualities.
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