[Solved] What Is Meant by Perfect Price Discrimination
Question 91
Multiple Choice
Question 91What is meant by perfect price discrimination?
A)A situation where all customers are charged the lowest price they are willing to pay for each unit of a product bought.
B)A situation where all customers are charged the highest price they are willing to pay for each unit of a product bought.
C)A situation where some customers are charged the lowest price they are willing to pay for each unit of a product bought.
D)A situation where a few customers are charged the highest price they are willing to pay for each unit of a product bought.
E)A situation where some customers are charged the same price for different products
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- Q86:The following table gives the cost and demand data for a monopolist:
-Refer to the above information to answer this question.Suppose that the monopolist is unregulated.What will be the level of maximum profit?
A)$0.
B)$3.
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D)$15.
E)$60. - Q87:The following table gives the cost and demand data for a monopolist:
-Refer to the above information to answer this question.Suppose that the monopolist is regulated and forced to charge a socially optimum price.What will be the price and output?
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- Q92:Define perfect price discrimination. A)A situation where a firm can charge the highest price. B)A situation where a firm charges the highest price to a few of the customers C)A situation where a firm can charge the lowest price to a few of the customers D)A situation where a seller charges the highest price to all the customers who are willing to pay for each unit of a product bought. E)A situation where a seller charges the lowest price to some of the regular customers
- Q93:What is meant by the term natural monopoly? A)A single producer in a market,usually supported by government subsidies,who is able to produce at a higher cost than competing firms could. B)A single producer in a market,usually with patent rights,who is able to produce at a cost equal to those of the competing firms. C)A single producer in a market,usually with large economies of scale,who is able to produce at a lower cost than competing firms could. D)A single producer in a market,usually with monopoly rights over input resources,who is able to produce at a higher cost than competing firms could.
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