A monopoly will NOT be able to perfectly price discriminate if
A) each consumer does not reveal her reservation price.
B) demand is very elastic.
C) the firm's marginal cost curve is upward sloping.
D) All of the above.
A
Economics
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What is an agreement among members of an oligopoly to set prices and production levels called?
(A) Price leadership. (B) Competition. (C) Imperfect monopoly. (D) Collusion.
Economics
A flour mill holding exclusive contracts to 95% of the wheat in a large geographic area may operate as a flour-producing monopoly locally because
A) the mill has a very inelastic supply curve. B) the mill is a natural monopoly. C) the mill controls a key input. D) the government will declare it a monopoly.
Economics