A firm faces the demand for its product, , as shown in the figure below. It produces under conditions of constant costs in the long run, and LMC =LAC…
A firm faces the demand for its product, , as shown in the figure below. It produces under conditions of constant costs in the long run, and LMC =LAC = $12 per unit. Answer the next question using this information.`If the firm can practice first-degree price discrimination, it will be able to collect $________ in total revenue under perfect price discrimination
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