First Degree Price Discrimination and its Effect on Efficiency in a Monopolistic Market

This lesson will define price discrimination, outline the conditions necessary for it to occur, and explain the different degrees of price discrimination. We will then illustrate the effect of perfect price discrimination and attempt to conclude whether or not it is good overall for society by looking at the effect it has on consumers and producers.
Want to learn more about economics, or just be ready for an upcoming quiz, test or end of year exam? Jason Welker is available for tutoring, IB internal assessment and extended essay support, and other services to support economics students and teachers. Learn more here! econclassroom.com/?page_id=5870

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[@JasonWelker]

Any firm with price making power may be able to price discriminate. For example, movie theaters are usually not monopolists, but charge different prices to different consumers for the same product. So yes, oligopolists MAY be able to price discriminate, even ones in competition with other firms!

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[@ellenmaes2480]

In some books, profit is shown on a graph as everything between the MC-curve and the demand curve. So that's wrong then? Or is that area 'always' the same as the area shown in this video (with AC-curve) The area between MC-ruve and demand curve is producer surplus, that I know. Can you say that's also profit?

[@NoraGreen1992]

Soooooo well explained oh lord. I got lost in the class when lecturer draw this graph

[@anettsmith4821]

Would buying something from a pawn shop be considered a 1st degree of price discrimination? Just because I have seen a pawn shop owner sell a product at a high price to one customer that was in deep demand for that product and then sold the same exact product at a lower price to another customer..(because that customer was not in high demand for that product)

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[@lion52193]

could the first degree price operate and achieve the same economic outcome as the perfect competition market?

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Hi! Issit it possible to show 2nd degree and 3rd degree since it is much more common as you mention? Anyway, thank you for the great video!

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Can you make a video for 2nd degree and 3rd degree s' graphs analysis?

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11:53, Ukraine profit.

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[@mohammadsamisamim3174]

Is bargaining a price recrimination?

[@jacobheremaia5787]

yup its 1 st degree

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[@olivezoo]

why p=MC

[@zachary2407]

College = 1st degree. Also, thank you.

[@JasonWelker]

Not exactly. It's more like 3rd degree, "by consumer group". For instance in-state tuition allows state residents to pay less. Pell-grants allow lower income students to pay less... the market is being segregated based on residence and socioeconomic level, not student by student...