Which is true of a price discriminating pure monopolist?
A. P > MR for the last unit sold
B. Profit will be higher than in the nondiscriminating case
C. The average price will be higher than in the nondiscriminating case
D. Allocative inefficiency will be greater than in the nondiscriminating case
C. The average price will be higher than in the nondiscriminating case
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An individual firm's best response:
A. is the firm's most profitable choice given the actions of its rivals. B. is not necessarily selected by all firms in a Nash equilibrium. C. is always the option with the highest price for each firm. D. is to set the same price and quantity as all of its rivals.
A choice architect is someone who:
A. designs areas that have a lot of choices in determining how the space is used. B. determines how people should make decisions inside of a specific environment. C. is in a position to shape the decision-making environment. D. determines which choices are available to builders in a specific area.
The investment demand curve
a. is upward sloping b. is downward sloping c. is horizontal d. begins sloping upward then flattens out e. begins sloping downward, then flattens out
Refer to the above figure. The equilibrium level of real Gross Domestic Product (GDP) is
A. $7 trillion. B. $12 trillion. C. $6 trillion. D. $20 trillion.