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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