true or false A monopolist that can practice price discrimination will have a larger producer surplus...
true or false
A monopolist that can practice price discrimination will have a larger producer surplus than a monopolist that cannot practice price discrimination.
Homework Answers
Ans) True
In price discrimination, firms are trying to get buyers to pay a price as close as possible to their maximum willingness to pay.
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true or false
A monopolist that can practice price discrimination will have a
larger producer surplus...
Price Discriminating Monopolist vs. Single Price Monopolist I have 4/5 answers to the question correct, but I do not kno...
Price Discriminating Monopolist vs. Single Price Monopolist
I have 4/5 answers to the question correct, but I do not know
which ones, and I cannot seem to figure out which one I have
incorrect. My answers are:
8
4
8
increases
Less Than
3. (Figure: Price-Discriminating Monopolist 2) The perfectly 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 less...
If a monopolist can perfectly price discriminate the total surplus in the market will be maximized....
If a monopolist can perfectly price discriminate the total surplus in the market will be maximized. True or False
6. Conditions for price discrimination Price discrimination is the practice of selling the same good at...
6. Conditions for price discrimination Price discrimination is the practice of selling the same good at more than one price when the price differences are not justified by cost differences. Evaluate the following statement:"Price discrimination is possible when a good is sold in a perfectly competitive market." False, because perfectly competitive firms have no market power O None of these choices O False, because perfectly competitive firms do not profit-maximize by setting marginal revenue equal to marginal cost O True,...
4. If a monopolist can practice third degree price discrimination, what group gets a lower price...
4. If a monopolist can practice third degree price discrimination, what group gets a lower price and why? [Aim for around 200 words] 5. What is a natural monopoly? Do you think that pharmaceutical drugs fit this description? Why or why not? [Aim for around 200 words]
True or false? (2 points) A price-discriminating monopolist will always create deadweight loss. (2 points) A...
True or false? (2 points) A price-discriminating monopolist will always create deadweight loss. (2 points) A monopoly market has barriers to entry and no close substitutes. (2 points) Unlike the monopolist, a monopolist creates an efficient market by payer workers less. (2 points) All else equal, the lower the price, the higher the consumer surplus. (2 points) A tax on buyers does not change the producer surplus because it is paid by consumers.
If a monopolist practices perfect price discrimination, then it will have a. a greater total revenue...
If a monopolist practices perfect price discrimination, then it will have a. a greater total revenue and sell a greater output than if it were not practicing price discrimination. b. a smaller total revenue and sell a smaller output than if it were not practicing price discrimination. c. the same total revenue but sell a larger output than if it were not practicing price discrimination. d. the same total revenue but sell a smaller output than if it were not...
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...
1. Conditions for price discrimination Aa Aa Price discrimination is the practice of selling the same...
1. Conditions for price discrimination Aa Aa Price discrimination is the practice of selling the same good at more than one price when the price differences are not justified by cost differences. Evaluate the following statement: "Price discrimination is not possible when a good is sold in a competitive market." O False, because competitive firms have market power O False, because competitive firms do not profit maximize by setting marginal revenue equal to marginal cost None of these choices 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...
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?
Price Discriminating Monopolist vs. Single Price Monopolist
I have 4/5 answers to the question correct, but I do not know
which ones, and I cannot seem to figure out which one I have
incorrect. My answers are:
8
4
8
increases
Less Than
3. (Figure: Price-Discriminating Monopolist 2) The perfectly 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 less...
6. Conditions for price discrimination Price discrimination is the practice of selling the same good at more than one price when the price differences are not justified by cost differences. Evaluate the following statement:"Price discrimination is possible when a good is sold in a perfectly competitive market." False, because perfectly competitive firms have no market power O None of these choices O False, because perfectly competitive firms do not profit-maximize by setting marginal revenue equal to marginal cost O True,...
4. If a monopolist can practice third degree price discrimination, what group gets a lower price and why? [Aim for around 200 words] 5. What is a natural monopoly? Do you think that pharmaceutical drugs fit this description? Why or why not? [Aim for around 200 words]
If a monopolist practices perfect price discrimination, then it will have a. a greater total revenue and sell a greater output than if it were not practicing price discrimination. b. a smaller total revenue and sell a smaller output than if it were not practicing price discrimination. c. the same total revenue but sell a larger output than if it were not practicing price discrimination. d. the same total revenue but sell a smaller output than if it were not...
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...
1. Conditions for price discrimination Aa Aa Price discrimination is the practice of selling the same good at more than one price when the price differences are not justified by cost differences. Evaluate the following statement: "Price discrimination is not possible when a good is sold in a competitive market." O False, because competitive firms have market power O False, because competitive firms do not profit maximize by setting marginal revenue equal to marginal cost None of these choices O...
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...
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