Homework Answers
Price discrimination can be done only by firms who possess market power. Natural monopoly, monopoly, monopolistic and oligopolistic firms can price discriminate.
Hence the correct option is
c. it must have some market power.
Add Answer to:
For a firm to price discriminate, a.it must be a natural monopoly. Ob.it must be regulated...
Perfect price discrimination a.increases profits to the firm. b.increases total surplus. c.decreases consumer surplus. d.All of...
Perfect price discrimination a.increases profits to the firm. b.increases total surplus. c.decreases consumer surplus. d.All of the above are correct. For a firm to price discriminate, a.it must be a natural monopoly. b.it must be regulated by the government. c.it must have some market power. d.consumers must tell the firm what they are willing to pay for the product. A monopoly's marginal cost will a.be less than its average fixed cost. b.be less than the price per unit of its...
17. In order to price discriminate, a monopoly firm must be able to: a separate customers...
17. In order to price discriminate, a monopoly firm must be able to: a separate customers based on different elasticities of demand b. charge each customer the same price. c. incur a different cost for producing each unit of output. d. all of the above. 18. If DeBeers has a monopoly in the diamond market, then: a. DeBeers must be engaging in perfect price discrimination if it is charging every customer the same price for a diamond. b. the marginal...
1)Which of the following will result in the most deadweight loss? A.a natural monopoly regulated with...
1)Which of the following will result in the most deadweight loss? A.a natural monopoly regulated with average cost pricing B.a natural monopoly regulated with average variable cost pricing C.an unregulated natural monopoly D.a natural monopoly regulated with marginal cost pricing 2)A good or service or a resource is nonexcludable if A.it is not possible to prevent someone from benefiting from it. B.it is possible to prevent someone from enjoying its benefits. C.its use by one person decreases the quantity available...
12) Your local water company is a considered A) a natural monopoly and will be regulated....
12) Your local water company is a considered A) a natural monopoly and will be regulated. B) an oligopoly and will be able to charge a price greater than marginal cost. C) monopoly and will not be able to charge a price greater than marginal revenue. D) perfect competition because everyone needs tap water. E) monopolistic competition and will be able to charge a price greater than marginal cost. 13) A barrier to entry is A) the economic term for...
a. If the monopoly firm is not allowed to price discriminate, then consumer surplus amounts to ________________________...
a. If the monopoly firm is not allowed to price discriminate,
then consumer surplus amounts to
_______________________________
b. If the monopoly firm perfectly price discriminates, then
consumer surplus amounts to _______________________________
c. If the monopoly firm is not allowed to price discriminate,
then the deadweight loss amounts
_______________________________
d. If the monopoly firm perfectly price discriminates, then the
deadweight loss amounts to _______________________________
e. If there are no fixed costs of production, monopoly profit
without price discrimination equals
_______________________________
f....
8. Which ot the following statements is corroct a. The benefits that accrue to a monopoly's...
8. Which ot the following statements is corroct a. The benefits that accrue to a monopoly's owners are equal to the costs that are incurred by consumers of that firm's product b. The deadweight loss that arises in monopoly stems from the fact that the profit-maximizing monopoly firm produces a quantity of output that exceeds the socially-efficient quantity c. The deadweight loss caused by monopoly is similar to the deadweight loss caused by a tax on a d. The primary...
Suppose that after graduating from college with an economics degree, you get a job with your state’s public utilities commission. Your job is to determine the regulated price for an electric utility (a natural monopoly). The figure below shows the current
Suppose that after graduating from college with an economics degree, you get a job with your state’s public utilities commission. Your job is to determine the regulated price for an electric utility (a natural monopoly). The figure below shows the current situation in the market. 1st attemptPart 1 (1 point)See HintIf the electric utility was unregulated, it would earn $ in economic profits. Part 2 (1 point)See HintIf you set a regulated price to achieve economic efficiency, the electric utility would earn $ .Part 3 (1 point)See HintIf the electric utility is...
1.) What is the main difference between a competitive firm and a monopoly? a. A competitive...
1.) What is the main difference between a competitive firm and a monopoly? a. A competitive firm owns a key resource, but a monopoly firm does not. b. A competitive firm is a price taker, and a monopoly is a price maker. c. A competitive firm produces output at a lower cost than a monopoly firm. d. A competitive firm is subject to government regulations, but a monopoly firm is not. 2.) What is the main social problem caused by...
2. Suppose a monopoly firm is allowed to price discriminate in 3 markets where the prices...
2. Suppose a monopoly firm is allowed to price discriminate in 3 markets where the prices for the good in each market are given by: P1 = 63 - 401 P2 = 105 - 502 P3 = 75 - 603 where: Q = Q1 + Q2 + Q3 The cost of the output is (Q) = 20 + 15Q+Q2 a) Give the profit function for the firm. b) Find the FOC's and find the p*'s and Q*'s that maximize profit....
QUESTION 22 In a competitive market the price is $8. A typical firm in the market...
QUESTION 22 In a competitive market the price is $8. A typical firm in the market has ATC - S6, AVC - S5, and MC - $8. How much economic profit is the firm earning in the short run? a. $2 per unit b. Si per unit c. $0 per unit Od.$3 per unit QUESTION 23 Which of the following factors is most likely to shift IBM's total cost and marginal cost curves downward? a. a technological advance resulting in...
Perfect price discrimination a.increases profits to the firm. b.increases total surplus. c.decreases consumer surplus. d.All of the above are correct. For a firm to price discriminate, a.it must be a natural monopoly. b.it must be regulated by the government. c.it must have some market power. d.consumers must tell the firm what they are willing to pay for the product. A monopoly's marginal cost will a.be less than its average fixed cost. b.be less than the price per unit of its...
17. In order to price discriminate, a monopoly firm must be able to: a separate customers based on different elasticities of demand b. charge each customer the same price. c. incur a different cost for producing each unit of output. d. all of the above. 18. If DeBeers has a monopoly in the diamond market, then: a. DeBeers must be engaging in perfect price discrimination if it is charging every customer the same price for a diamond. b. the marginal...
a. If the monopoly firm is not allowed to price discriminate,
then consumer surplus amounts to
_______________________________
b. If the monopoly firm perfectly price discriminates, then
consumer surplus amounts to _______________________________
c. If the monopoly firm is not allowed to price discriminate,
then the deadweight loss amounts
_______________________________
d. If the monopoly firm perfectly price discriminates, then the
deadweight loss amounts to _______________________________
e. If there are no fixed costs of production, monopoly profit
without price discrimination equals
_______________________________
f....
8. Which ot the following statements is corroct a. The benefits that accrue to a monopoly's owners are equal to the costs that are incurred by consumers of that firm's product b. The deadweight loss that arises in monopoly stems from the fact that the profit-maximizing monopoly firm produces a quantity of output that exceeds the socially-efficient quantity c. The deadweight loss caused by monopoly is similar to the deadweight loss caused by a tax on a d. The primary...
2. Suppose a monopoly firm is allowed to price discriminate in 3 markets where the prices for the good in each market are given by: P1 = 63 - 401 P2 = 105 - 502 P3 = 75 - 603 where: Q = Q1 + Q2 + Q3 The cost of the output is (Q) = 20 + 15Q+Q2 a) Give the profit function for the firm. b) Find the FOC's and find the p*'s and Q*'s that maximize profit....
QUESTION 22 In a competitive market the price is $8. A typical firm in the market has ATC - S6, AVC - S5, and MC - $8. How much economic profit is the firm earning in the short run? a. $2 per unit b. Si per unit c. $0 per unit Od.$3 per unit QUESTION 23 Which of the following factors is most likely to shift IBM's total cost and marginal cost curves downward? a. a technological advance resulting in...
Most questions answered within 3 hours.
-
Can someone explain this code with comments I am supposed to dispay an array an add...
asked 8 minutes ago -
MKT2283 Sales Management Week 2 Assignment
Making Sales Management Decisions – Pronto Retail
Centers
Sales Management,...
asked 15 minutes ago -
Uranium is distributed in a form called yellow cake, which is
made from uranium ore. In...
asked 26 minutes ago -
Python:
Write a func that will create a list of random numbers. The
function will take...
asked 29 minutes ago -
Which of the following statements below is correct? There might
be more than one correct answer....
asked 32 minutes ago -
You find that the annual standard deviation of a stock's returns
is equal to 35%. For...
asked 37 minutes ago -
A 2,000 kg car is traveling at 20.0 m/s down a long mountain
grade of 1.00%....
asked 44 minutes ago -
A baseball is hit almost straight up into the air with a speed
of 26 m/s...
asked 51 minutes ago -
In C++, what is the easiest way to have a program ask for first,
middle and...
asked 50 minutes ago -
1. When evaluating a source in a magazine, journal, newspaper,
or website, which one is NOT...
asked 59 minutes ago -
Write the vb.Net code that displays a 2-column table in a
textbox, displaying (1,2,3, ...., 100) in...
asked 1 hour ago -
When 96.3 g of alanine C3H7NO2 are dissolved in 500. g of a
certain mystery liquid...
asked 1 hour ago