Why might it be a bad idea to engage in first-degree price discrimination?
A. Price discrimination is illegal and can lead to lawsuits and lost customers.
B. The information needed does not exist and scarce resources should not be used searching for it.
C. Price discrimination in any form is not viable for most companies as a way to increase profits.
D. The information needed can be costly and can lead to decreased profits for the company.
Answer: D
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Refer to the table above. What is the total revenue of the monopolist when it charges a price of $9?
A) $1,250 B) $1,350 C) $1,750 D) $2,250
If the costs of production do NOT change as output increases in the long run in a perfectly competitive industry, then this is a
A. constant-price industry. B. constant-competitive industry. C. constant-cost industry. D. constant-return-to-scale industry.