First-degree Price Discrimination Output unit The gains to the monopolist on these trades are: p(y)Mc(y), p(y)Mc(y) p(y') and zero ply Mc(y) p(y"") ply yy y y The consumers'gains are zeroFirst-degree Price Discrimination p(y) y $/output unit MC(y) y p(y) y y p(y) p(y) The gains to the monopolist on these trades are: and zero. p(y) − MC(y), p(y) − MC(y) The consumers’ gains are zero