A monopolist's profits with price discrimination will be
a. lower than if the firm charged a single, profit-maximizing price
b. the same as if the firm charged a single, profit-maximizing price.
c. higher than if the firm charged just one price because the firm will capture more consumer surplus.
d. higher than if the firm charged a single price because the costs of selling the good will be lower.
c
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In monopolistic competition in the long run, firms
A) make zero economic profit and require more capacity. B) incur an economic loss and require more capacity. C) make an economic profit and have excess capacity. D) make zero economic profit and have excess capacity. E) make an economic profit and require more capacity.
If the federal budget has an actual budget surplus of $75 billion, but a cyclically adjusted budget surplus of $50 billion, then the economy must be above potential real GDP
Indicate whether the statement is true or false
If a firm's short-run total cost curve lies above its total revenue curve at all output levels, the goal of the firm should be to
a. minimize total cost b. maximize total revenue c. minimize its loss d. minimize marginal cost e. maximize marginal revenue
Of all the taxes collected in the U.S. economy, what percentage is collected by the federal government?