Homework Answers
Answer 5
A. The policy of charging consumers their maximum willingness to pay is known as first degree price discrimination.
B. Equilibrium occurs where P=MC
In comparison with single price monopolist
Price rises
Quantity rises
Profit rises
Consumer surplus is zero as it is converted into monopolist profit.
Deadweight loss is zero as free market quantity is produced.
C. Efficiency rises as free market quantity is produced and Deadweight loss is zero.
D. Monopolist benefits as the consumer surplus is zero and is converted to profit.
Monopolist benefits as profit rises.
E. 
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