A ________ can price discriminate if, in part, it ________
A) natural monopoly; is the only seller of a good or service
B) monopoly; can prevent resales of its product
C) monopoly; is the only seller of a good or service
D) perfectly competitive firm; can sell goods at a lower price than a monopoly
E) perfectly competitive firm; changes from a price taker to a price maker
B
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Refer to Figure 11-18. Starting from point E, a movement along the isocost to point F
A) decreases output but not the total cost of production. B) decreases both the total cost of production and output. C) decreases the total cost of production but not output. D) increases the total cost of production and decreases output.
If a firm is operating in the range of diseconomies of scale, and if it is currently at the minimum point of its short-run average total cost curve, explain what action it can take to reduce its costs, if it does not want to change the quantity of output that it is producing