This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: In the small country of Talisman, the liquor industry is monopolized by a single producer Best ... (Read 86 times)

storky111

  • Hero Member
  • *****
  • Posts: 561
on: Jun 30, 2018
In the small country of Talisman, the liquor industry is monopolized by a single producer Best Drinks Inc Best Drinks charges high-end customers like 5-star hotels a much higher price than it charges local pubs. This discrimination is possible only if:
 a. price discrimination is legal in Talisman.
  b. we assume Best Drinks can prevent pub owners from buying liquor and selling it to 5-star hotels.
  c. consumers in Talisman have similar price elasticities of demand for liquor.
  d. we assume Best Drinks is a natural monopoly.

Question 2

If a monopolist is producing at the profit-maximizing level of output, what price will it charge?
 a. The price given by the marginal-revenue curve at that level of output.
  b. The price given by the marginal-cost curve at that level of output.
  c. The price given by the average-cost curve at that level of output.
  d. The price given by the average-revenue curve at that level of output.
  e. The price given by the total revenue curve at that level of output.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

cat123

  • Sr. Member
  • ****
  • Posts: 310
Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

d


storky111

  • Member
  • Posts: 561
Reply 2 on: Jun 30, 2018
Excellent

xthemafja

  • Member
  • Posts: 348
Reply 3 on: Yesterday
:D TYSM

« previous next »
 

Did you know?

In 1844, Charles Goodyear obtained the first patent for a rubber condom.

Did you know?

Approximately one in three babies in the United States is now delivered by cesarean section. The number of cesarean sections in the United States has risen 46% since 1996.

Did you know?

Prostaglandins were first isolated from human semen in Sweden in the 1930s. They were so named because the researcher thought that they came from the prostate gland. In fact, prostaglandins exist and are synthesized in almost every cell of the body.

Did you know?

Complications of influenza include: bacterial pneumonia, ear and sinus infections, dehydration, and worsening of chronic conditions such as asthma, congestive heart failure, or diabetes.

Did you know?

The Romans did not use numerals to indicate fractions but instead used words to indicate parts of a whole.

The alimentary canals of a nonruminant herbivore and a small carnivore. The alimentary canals of a nonruminant herbivore and a small carnivore.
Why Cells Are Small Why Cells Are Small
The common squirrel monkey (Saimiri sciureus) is a small New World primate from the Cebidae (squirre The common squirrel monkey (Saimiri sciureus) is a small New World primate from the Cebidae (squirre
Some of the many small molecules found in cells Some of the many small molecules found in cells
Fine motor skills involve coordinating the many small muscles of the wrists, hands, and fingers. Fine motor skills involve coordinating the many small muscles of the wrists, hands, and fingers.
Block Diagram of Single-stage Pressure System for Dual-Stage Pressure Production of Nitric Acid Block Diagram of Single-stage Pressure System for Dual-Stage Pressure Production of Nitric Acid
Video: A timeline of the teeth (Explained - No Audio)

For a complete list of videos, visit our video library