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Indivisible units are produced with increasing marginal costs. Under Average Cost, each user pays average cost. Under Random Priority, users are randomly ordered (without bias) and successively offered to buy at the true marginal cost. Both AC and RP inefficiently overproduce. RP tends to...
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Indivisible units are produced with increasing marginal costs. Under average cost, each user pays average cost. Under random priority, users are randomly ordered (without bias) and successively offered to buy at the true marginal cost. Both average cost (AC) and random priority (RP)...
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