The crowding-out effect is small when firms are ______.

If price discrimination enables sellers to increase net revenues, why don't all sellers try it? Because

A) some sellers can't manipulate their price. B) some sellers can't control resentment. C) some sellers can't prevent low-price buyers reselling to high-price buyers. D) of all the above reasons.

Refer to Figure 15-3. What happens to the monopolist represented in the diagram in the long run?

A) It will be forced out of business by more efficient producers. B) It will raise its price at least until it breaks even. C) If the cost and demand curves remain the same, it will exit the market. D) The government will subsidize the monopoly to enable it to break even.