If a monopolist is able to price discriminate:
a. consumer surplus is increased
b. the welfare loss from monopoly is increased.
c. producer surplus is decreased.
d. some consumer surplus and deadweight losses are transformed into monopoly profits.
d
You might also like to view...
In an attempt to reduce poaching of elephant tusks for ivory, officials in Kenya burned illegally gathered ivory. Economists tend to point out that
A. poaching can be reduced with price supports for ivory. B. the supply of ivory has fallen, leading to an increase in price and reward for poaching. C. burning ivory decreases demand, leading to lower prices and reward for poaching. D. the demand for ivory is higher, leading to an increase in price and reward for poaching. E. burning ivory raises demand, and controlled prices will lead to even greater poaching.
Refer to Table 4-8. If a minimum wage of $10.50 an hour is mandated, what is the quantity of labor demanded?
A) 400,000 B) 370,000 C) 340,000 D) 60,000
In Japan, recycling is prevalent and landfill use is small relative to the United States because
a. the Japanese are more conscientious b. there is no externality problem there c. land is relatively more scarce in Japan d. the Japanese have better recycling technology e. littering is illegal there
To obtain the market demand curve for a product, sum the individual demand curves
a. vertically. b. diagonally. c. horizontally. d. and then average them.