Vertical equity is the concept that people with different levels of income should be treated differently

In practice, price discrimination is never perfect. Why?

What will be an ideal response?

Refer to Figure 12-1. If the firm is producing 700 units, what is the amount of its profit or loss?

A) profit equivalent to the area A B) loss equivalent to the area A C) loss of $280 D) There is insufficient information to answer the question.