When a monopolist is able to price-discriminate:
a. its profits tend to increase and its consumer surplus tends to fall.
b. both its profits and consumer surplus tend to increase
c. both its profits and consumer surplus tend to decrease.
d. its profits tend to fall and its consumer surplus tends to increase.
a
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What is true along the demand curve for a resource?
a. Prices of other resources are assumed constant. b. The marginal product of that resource remains constant. c. Total cost of production is assumed constant. d. The price of that particular resource is assumed constant. e. The quantity of that particular resource is assumed constant.
If firms pollute when they produce,
a. marginal social cost equals marginal private cost b. marginal private cost exceeds marginal social cost c. marginal social cost exceeds marginal private cost d. marginal social cost equals marginal external cost e. marginal social cost equals marginal private cost, which equals marginal external cost