Homework Answers
Question 1
B. The deadweight loss is zero. In perfect price discrimination there is no consumer surplus as the goods are sold at the maximum price the consumers are willing to pay. So the willingness to pay equals marginal cost and there is no deadweight loss.
Question 2
C.
Predatory pricing means keeping the price low to drive away competitors. It is undercutting the prices of the competitors.
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The deadweight loss with perfect price discrimination is OA more than the deadweight loss of a...
A monopolist practicing (perfect) price discrimination has Select one: a. the same deadweight loss triangle as...
A monopolist practicing (perfect) price discrimination has Select one: a. the same deadweight loss triangle as a single-price monopolist. b. a larger deadweight loss triangle than a single-price monopolist has. O C. a deadweight loss triangle one-half the size of what it would be with uniform pricing. d. no deadweight loss triangle. 0: 51
A monopolist produces less than the socially optimal amount, resulting in a “deadweight” loss for the...
A monopolist produces less than the socially optimal amount, resulting in a “deadweight” loss for the society. Provide an intuitive explanation for the deadweight loss (i.e., what does it represent). Is it possible to achieve the socially optimal outcome if a monopolist is able to implement perfect price discrimination? Do the consumers prefer perfect price discrimination by a monopolist or perfect competition?
1. A monopolist produces less than the socially optimal amount, resulting in a "deadweight" loss for...
1. A monopolist produces less than the socially optimal amount, resulting in a "deadweight" loss for the society. Provide an intuitive explanation for the deadweight loss (i.e., what does it represent). Is it possible to achieve the socially optimal outcome if a monopolist is able to implement perfect price discrimination? Do the consumers prefer perfect price discrimination by a monopolist or perfect competition?
A monopolist produces less than the socially optimal amount, resulting in a “deadweight” loss for the society. Provide a...
A monopolist produces less than the socially optimal amount, resulting in a “deadweight” loss for the society. Provide an intuitive explanation for the deadweight loss (i.e., what does it represent). Is it possible to achieve the socially optimal outcome if a monopolist is able to implement perfect price discrimination? Do the consumers prefer perfect price discrimination by a monopolist or perfect competition?
1. If the monopoly firm perfectly price discriminates, then the deadweight loss amounts to _______________________________ 2....
1. If the monopoly firm perfectly price discriminates,
then the deadweight loss amounts to
_______________________________
2. If there are no fixed costs of production, monopoly
profit without price discrimination equals
_______________________________
3. If there are no fixed costs of production, monopoly
profit with perfect price discrimination equals
_______________________________
Monopoly so 1 Price 45+ 40+ 35 30+ in 15+ 10 MC-ATC Demand MR 50 100 150 200 250 300 350 400 450 500 550 600 650 700 750 800 Quantity
This industry is most susceptible to collusion: Perfect Competition Monopolistic Competition Pure Monopoly More than one...
This industry is most susceptible to collusion: Perfect Competition Monopolistic Competition Pure Monopoly More than one of these is correct Oligopoly
ULU ILLUMId=21 QUESTION 8 When perfect price discrimination occurs, which one of the following statements is...
ULU ILLUMId=21 QUESTION 8 When perfect price discrimination occurs, which one of the following statements is true? a. The outcome is more efficient than with single-price monopoly. b. Buyers buy more products than they want. c. The firm cannot set prices. d. The output is less than the one being produced by single-price monopoly. QUESTION 9 If a perfect price-discriminating monopoly faces the demand schedule shown in the table below, and if marginal cost is constant at $6, what is...
The perfect price-discriminating monopolist in this diagram will produce ____ units of output, and a single-price...
The perfect price-discriminating monopolist in this diagram will
produce ____ units of output, and a single-price monopolist would
produce _____ units of output. Consumer surplus under a perfectly
price discriminating monopolist is _____ dollars than under a
single-price monopolist. While, perfect price discrimination
results in reduced consumer surplus, it (increases/decreases)
producer surplus and ultimately results in deadweight loss that is
(less than/greater than/equal to) the amount of deadweight loss
found in a perfectly competitive market.
3 5 points Price $10...
Which of the following statements is not correct? A. For a given demand curve, the profit...
Which of the following statements is not correct? A. For a given demand curve, the profit for a single-price monopolist is larger than for a monopolist that can price discriminate. B. The deadweight loss that arises in monopoly stems from the fact that the profit-maximizing single-price monopoly firm produces a quantity of output that is smaller the socially-efficient quantity. C. The deadweight loss caused by monopoly is similar to the deadweight loss caused by a tax on a product. D....
30. The B B and H C C and H D. D and H . The...
30. The B B and H C C and H D. D and H . The profit earned by the profie-maximiring monopolist is repesented by the A. ABGH BDEG C. BCFG D. CDEF B. 32. The profit per unit is: AF-G B. E-F CE-G D. G-H 33. The monopolist's supply curve is the marginal-cost curve above average variable cost A. Tnue B. False 34. Government regulations to force a natural monopoly to charge a price equal to its marginal cost...
A monopolist practicing (perfect) price discrimination has Select one: a. the same deadweight loss triangle as a single-price monopolist. b. a larger deadweight loss triangle than a single-price monopolist has. O C. a deadweight loss triangle one-half the size of what it would be with uniform pricing. d. no deadweight loss triangle. 0: 51
1. A monopolist produces less than the socially optimal amount, resulting in a "deadweight" loss for the society. Provide an intuitive explanation for the deadweight loss (i.e., what does it represent). Is it possible to achieve the socially optimal outcome if a monopolist is able to implement perfect price discrimination? Do the consumers prefer perfect price discrimination by a monopolist or perfect competition?
1. If the monopoly firm perfectly price discriminates,
then the deadweight loss amounts to
_______________________________
2. If there are no fixed costs of production, monopoly
profit without price discrimination equals
_______________________________
3. If there are no fixed costs of production, monopoly
profit with perfect price discrimination equals
_______________________________
Monopoly so 1 Price 45+ 40+ 35 30+ in 15+ 10 MC-ATC Demand MR 50 100 150 200 250 300 350 400 450 500 550 600 650 700 750 800 Quantity
ULU ILLUMId=21 QUESTION 8 When perfect price discrimination occurs, which one of the following statements is true? a. The outcome is more efficient than with single-price monopoly. b. Buyers buy more products than they want. c. The firm cannot set prices. d. The output is less than the one being produced by single-price monopoly. QUESTION 9 If a perfect price-discriminating monopoly faces the demand schedule shown in the table below, and if marginal cost is constant at $6, what is...
The perfect price-discriminating monopolist in this diagram will
produce ____ units of output, and a single-price monopolist would
produce _____ units of output. Consumer surplus under a perfectly
price discriminating monopolist is _____ dollars than under a
single-price monopolist. While, perfect price discrimination
results in reduced consumer surplus, it (increases/decreases)
producer surplus and ultimately results in deadweight loss that is
(less than/greater than/equal to) the amount of deadweight loss
found in a perfectly competitive market.
3 5 points Price $10...
30. The B B and H C C and H D. D and H . The profit earned by the profie-maximiring monopolist is repesented by the A. ABGH BDEG C. BCFG D. CDEF B. 32. The profit per unit is: AF-G B. E-F CE-G D. G-H 33. The monopolist's supply curve is the marginal-cost curve above average variable cost A. Tnue B. False 34. Government regulations to force a natural monopoly to charge a price equal to its marginal cost...
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