A price-discriminating monopolist will tend to charge a higher ...

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A price-discriminating monopolist will tend to charge a higher price to senior citizens if it believes that senior citizens:
 a. have a lower willingness to pay than other demanders.
  b. have a greater willingness to pay than other demanders.
  c. have very elastic demand curves.
 d. have horizontal demand curves.

Question 2

Protection from foreign competition benefits domestic producers in the protected industry at the expense of domestic consumers.
 a. True
  b. False
  Indicate whether the statement is true or false

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Answer to Question 1

b

Answer to Question 2

True