A monopoly can successfully price discriminate as long as there are no close substitutes for its product.
a. True
b. False
Indicate whether the statement is true or false
Question 2
An indifference map states:
a. indifference curves farther from the origin yield higher levels of total utility.
b. that the consumer's income varies with the level of the indifference curve.
c. indifference curves closer to the origin yield higher levels of total utility.
d. that the points on either parts of indifference curves are preferred to the midpoint.
Solution (Polynomial Long Division)
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