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Author Question: A monopoly ________. A. can choose its price and output and always has the option of price ... (Read 48 times)

MGLQZ

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on: Jun 29, 2018
A monopoly ________.
 
  A. can choose its price and output and always has the option of price discriminating
  B. is a price taker and by offering a range of discounts can price discri-minate
  C. that produces a good that cannot be resold might choose to price dis-criminate
  D. book store that offers a discount on Tuesdays is price discriminating

Question 2

Use Figure 13.2 which depicts a monopolist firm to help with the following question. Define the area of total costs that this firm will incur if it is maximizing profit. Use the letters that appear on the graph to identify the area.
 
  What will be an ideal response?


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mcomstock09

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Reply #1 on: Jun 29, 2018
Answer to Question 1

C The monopoly has the potential of price discriminating only when the good cannot be resold.

Answer to Question 2

Total revenue is bounded by AC, Y, Qm and O.


MGLQZ

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

Bigfoot1984

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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