Refer to the figure above. What is the quantity effect of a price reduction from $6 to $4?

The text describes three different "degrees" of price discrimination

Of these, which one is theoretically capable of generating the greatest amount of economic profit for the firm? Why? In contrast, which one do you think has the greatest applicability to the range of goods and services consumers typically purchase?

If a city decides to restrict the number of pizza parlors,

A) the price of pizza will increase. B) pizza parlors will make higher profits. C) total welfare will decrease. D) All of the above.