Question: Under certain conditions, a monopolist could practice price discrimination. 1. Define price discrimination. 2. List and describe the three types of price discrimination. 3. Explain

Under certain conditions, a monopolist could practice price discrimination.
1. Define price discrimination.
2. List and describe the three types of price discrimination.
3. Explain why a monopolist wants to price discriminate.
4. State the conditions of price discrimination.
5. Explain why a perfect price discriminating monopolist will achieve resource allocative efficiency.

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