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REGULATORY POLICY: Government policy based on government's ability to pass laws and enact regulations.

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FIRST-DEGREE PRICE DISCRIMINATION

A form of price discrimination in which a seller charges the highest price that buyers are willing and able to pay for each quantity of output sold. This is also termed perfect price discrimination because the seller is able to extract ALL consumer surplus from the buyers. This is one of three price discrimination degrees. The others are second-degree price discrimination and third-degree price discrimination.

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Today, you are likely to spend a great deal of time flipping through mail order catalogs hoping to buy either a birthday greeting card for your grandfather or a weathervane with a cow on top. Be on the lookout for letters from the Internal Revenue Service.
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The average bank teller loses about $250 every year.
"It is not the brains that matter most, but that which guides them ‚ the character, the heart, the generous qualities, progressive ideas. "

-- Fyodor Dostoyevsky - Writer

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