Distinguish between a price-discriminating monopoly and a single-price monopoly. A single-price monopoly is a firm that...
Distinguish between a price-discriminating monopoly and a single-price monopoly.
A single-price monopoly is a firm that ______ each unit of its output ______.
A.
produces; at a constant cost
B.
must sell; at the same price as its competitors
C.
must sell; at the price regulated by the government
D.
must sell; for the same price to all its customers
A price-discriminating monopoly _______.
A.
sells different units of a good or service for different prices
B.
is a firm that does its lower-income customers a favour by charging them a lower price
C.
sells in bulk
D.
is a firm that is a price taker
Homework Answers
1. Option D. must sell; for the same price to all its customers
Explanation: In a single price monopoly, it sells all units at the same price to all customers.
2. Option A. sells different units of a good or service for different prices
Explanation: A price discriminating monopoly sells different units at different prices.
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