Solution: suppose 1) each person s demand curve is known, and 2) transferability of the good to another person is impossible, then each person is charged a price based on its willingness to pay, this is called perfect price discrimination.
{"Image DocumentName": "Solution: suppose 1) each person s demand curve is known, and 2) transferability of the good to another person is impossible, then each person is charged a price based on its willingness to pay, this is called perfect price discrimination.", "Image ImageDescription": "Conclusion: Since knowledge of individual preferences is impossible, private provision leads to inefficiency (even if a nonrival good is excludable).", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}