Y5 Question #4OOOO3. Chesterfield Pharmaceuticals is a price discriminating monopolistic producer of an effective arthriticdrug. It can be taken by humans as well as dogs and cats. Humans that suffer from the debilitatingcondition are willing to pay the following prices and quantities for the miracle cure and are illustrated inSchedule (1). The Pets' owners are willing to pay the following prices and quantities shown in Schedule(2).Schedule (1)Price Quantity$115.00Dс$100.50$83.00$71.00$61.50$55.00$48.00$42.50$37.00$33.00$29.5010Assume that the marginal cost and the average total cost are always $33 for production andsale in both markets.ABO Ea.b.01d.e.23454. If Chesterfield can price discriminate, what will be the quantity sold and the price that prevails in thehuman market?6789Schedule (2)Price$71.66$63.00$55.10$48$42.00$37.00$33.00$29.66QuantityQ=1 unit; P = $100Q=2 units; P= $83Q=3 units; P= $71Q= 4 units; P = $61.50None of the above01234567

Price discrimination is the practise where producers charge different prices to different consumers…

4. If Chesterfield can price discriminate, what will be the quantity sold and the price that prevails in the human market? a. b. d. Q=1 unit; P = $100 Q=2 units; P= $83 Q=3 units; P= $71 Q=4 units; P = $61.50 None of the above

4. If Chesterfield can price discriminate, what will be the quantity sold and the price that prevails in the human market? a. b. d. Q=1 unit; P = $100 Q=2 units; P= $83 Q=3 units; P= $71 Q=4 units; P = $61.50 None of the above

ENGR.ECONOMIC ANALYSIS

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ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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