If a market is controlled by a perfect-price-discriminating monopoly, then
A) a deadweight loss is generated.
B) there is no consumer surplus.
C) consumer surplus is the same as under perfect competition.
D) output is less than that of a single-price monopoly.
B
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An economy is at a full-employment equilibrium, and then the aggregate demand curve shifts leftward. As a result, the price level ________ and real GDP ________
A) rises; increases B) rises; decreases C) falls; increases D) falls; decreases E) falls; does not change
The intersection of the aggregate supply curve and the aggregate demand curve occurs at the economy's equilibrium level of
A) real investment and interest rate B) real disposable income and unemployment C) real national output and the price level D) government expenditures and taxes E) imports and exports