Answered: 21. The monopolist represented in Table…

21. The monopolist represented in Table 1.3 will charge a price of.. Table 1.3 Quantity Price Total Cost 1 $500 $400 2 $450 $650 S400 $350 $950 S1,300 S1,700 4 S300 a. $500 b. $450 c. $350 d. $300

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Concept explainers

Price Discrimination

Price discrimination or differential pricing is based on the principle that the seller will charge the buyer a price based on the buyer’s ability and willingness to pay for the product rather than applying uniform pricing for all.

Question

21. The monopolist represented in Table 1.3 will charge a price of..
Table 1.3
Quantity
Price
Total Cost
1
$500
$400
2
$450
$650
S400
$350
$950
S1,300
S1,700
4
S300
a. $500
b. $450
c. $350
d. $300

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