Homework Answers
Price discrimination allows the producer to charge the entire willingness to buy from the individual .There are three types of price discrimination. first degree , second degree and third degree, all of them allows the monopoly producer to identify the willingness to pay of the consuers and charge them exactly an amount equal to the willingness to pay..
The producer gains a greater amount as compared to the amount it does when does uniform pricing
Hence it Increases total profit of the firmOption a)
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Price discrimination O a. increases total profit for the firm. O b. increases consumer surplus. O...
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...
Laulun available only to monopolies where consumers ou de Price discrimination increases a monopoly's economic profit...
Laulun available only to monopolies where consumers ou de Price discrimination increases a monopoly's economic profit by O A. capturing consumer surplus O B. producing a smaller amount O C. eliminating deadweight loss OD. increasing deadweight loss Question Viewer Click to select your answer and then click Check Answer. All parts showing OPON30 30 DSG
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....
2 Give two examples of price discrimination. ? How does perfect price discrimination affect consumer surplus,...
2 Give two examples of price discrimination. ? How does perfect price discrimination affect consumer surplus, producer surplus, and total surplus?
1 - At the current price of a good, Jessica's consumer surplus equals 12, Lauren's consumer...
1 - At the current price of a good, Jessica's consumer surplus equals 12, Lauren's consumer surplus equals 14, and Isabel's consumer surplus is 4. By perfect discrimination, a monopolist could increase his profit by a) 4 b) 12 c) 16 d) 30 2 - Suppose a firm uses the following price strategy for every customer. The first two unit purchase cost $4 each, and any extra unit costs $3.50. What kind of price discrimination is this> a) First-degree price...
1.Which of the following are key results of price discrimination? A. Profits increase and consumer surplus...
1.Which of the following are key results of price discrimination? A. Profits increase and consumer surplus increases. B. Profits descrease and consumer surplus decreases. C. Profits decrease and consumer surplus increases. D. Profits increase and consumer surplus decreases. 2.Children are charged less than adults for admission to professional baseball games but are charged the same prices as adults at the concession stands. This pricing system occurs because: A. children have an elastic demand for game ticket but an inelastic demand...
If the price of a bottle of orange juice is $0.75, the total consumer surplus received...
If the price of a bottle of orange juice is $0.75, the total consumer surplus received by these consumers is S (Enter your response rounded to hwo decimal places) Suppose the price of a bottle of orange juice rises to $150 Once the price of a bottle of orange juice rises to $1 50, the total consumer surplus received by these consumers is : $(Enter your response rounded to hwo decimal places) If the price of a bottle of orange...
If the price of a good increases, what happens to consumer surplus? Why? If the price...
If the price of a good increases, what happens to consumer surplus? Why? If the price of a good decreases, what happens to consumer surplus? Why? Explain a recent situation in which you purchases a good for more or less than anticipated and what happened to your consumer surplus.
How do you do these problems? Can you please help me? 2nd Degree Price Discrimination Problem...
How do you do these problems? Can you please help me?
2nd Degree Price Discrimination Problem Suppose there are 100 wealthy consumers, who value the 1" unit of a good at $15 and a 24 unit at S10. There are also 100 moderate income consumers, who value only the 1" unit at $12. For the producer, AC = MC = 6. There are no fixed costs. 1. No price discrimination. One unit sells for $15. 12. No price discrimination. One...
1. Consumer Surplus a. The inverse demand curve facing a firm is p = a – bQ. Ifp = - determine the consumer surplus. Th...
1. Consumer Surplus a. The inverse demand curve facing a firm is p = a – bQ. Ifp = - determine the consumer surplus. This will be a general equation. b. This general equation may seem abstract. Recall that in general, consumer surplus is the area under the demand curve and above the price. Let a = 100, p = - = 50, and Q = 100. Solve for consumer surplus using the basic 12(Base*Height) formula. Then solve using the...
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...
Laulun available only to monopolies where consumers ou de Price discrimination increases a monopoly's economic profit by O A. capturing consumer surplus O B. producing a smaller amount O C. eliminating deadweight loss OD. increasing deadweight loss Question Viewer Click to select your answer and then click Check Answer. All parts showing OPON30 30 DSG
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....
If the price of a bottle of orange juice is $0.75, the total consumer surplus received by these consumers is S (Enter your response rounded to hwo decimal places) Suppose the price of a bottle of orange juice rises to $150 Once the price of a bottle of orange juice rises to $1 50, the total consumer surplus received by these consumers is : $(Enter your response rounded to hwo decimal places) If the price of a bottle of orange...
How do you do these problems? Can you please help me?
2nd Degree Price Discrimination Problem Suppose there are 100 wealthy consumers, who value the 1" unit of a good at $15 and a 24 unit at S10. There are also 100 moderate income consumers, who value only the 1" unit at $12. For the producer, AC = MC = 6. There are no fixed costs. 1. No price discrimination. One unit sells for $15. 12. No price discrimination. One...
1. Consumer Surplus a. The inverse demand curve facing a firm is p = a – bQ. Ifp = - determine the consumer surplus. This will be a general equation. b. This general equation may seem abstract. Recall that in general, consumer surplus is the area under the demand curve and above the price. Let a = 100, p = - = 50, and Q = 100. Solve for consumer surplus using the basic 12(Base*Height) formula. Then solve using the...
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