A monopolist who is unable to price discriminate:
a. will never produce in the output range where marginal revenue is positive.
b. will never produce in the output range where marginal revenue is negative.
c. will never produce in the output range where demand is inelastic.
d. will be characterized by both (b) and (c).
Question 2
Justin never keeps track of the sales and discounts offered in the stores at various times of the year, while his sister does. This implies that Justin has a higher price elasticity of demand than his sister.
Indicate whether the statement is true or false
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