The U.S. Lorenz curve today is closer to the perfect equality line than in 1929

Entry of new firms in monopolistically competitive industries can convey a positive externality on consumers because new products result in more consumer surplus. This externality is called the

Which of the following is NOT necessary in order for a monopolist to practice effective price discrimination?

A) The marginal cost of providing the same good to different groups of buyers must be different. B) The monopolist must be able to segregate its market into different submarkets. C) The buyers in various markets must face different price elasticities of demand. D) The monopolist must have a downward sloping demand curve.