Sure! It will take me about a week. In the mean time I did do another video on first degree, here th-cam.com/video/dLzFdY8d7pc/w-d-xo.html. The main feature of first degree is that there is no consumer surplus (this is not true of third degree), that's why it's called 'perfect' price discrimination, the firm manages to perfectly charge P=WTP for every unit (can also do 2 part tariff or bundling)
Thank you for sharing this! ❤ Can you please explain a bit about the difference between the first degree and third degree price discrimination
Sure! It will take me about a week. In the mean time I did do another video on first degree, here th-cam.com/video/dLzFdY8d7pc/w-d-xo.html. The main feature of first degree is that there is no consumer surplus (this is not true of third degree), that's why it's called 'perfect' price discrimination, the firm manages to perfectly charge P=WTP for every unit (can also do 2 part tariff or bundling)
I did a video comparing all three :) th-cam.com/video/0-Ga5_zVf54/w-d-xo.html