When a monopolist sells the same product at different prices and the prices are not related to cost differences, we have
A) monopoly pricing.
B) marginal cost pricing.
C) price discrimination.
D) price differentiation.
C
Economics
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The figure above shows a monopoly's total revenue and total cost curves. The monopoly's economic profit is maximized when it produces
A) 0 units of output. B) 5 units of output. C) 15 units of output. D) 20 units of output.
Economics
When the absolute price elasticity of demand equals 2.5, demand is
A) elastic. B) unit-elastic. C) inelastic. D) undetermined without more information.
Economics