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Compared to perfect competition, why is the market structure of monopoly undesirable from the consumers' perspectives? Use graphs to support your answer. (b) Describe how the Internet has changed the possibility of price discrimination. (c) Suppose that Amazon offers a special discount on textbooks bought in January. In order to get the discount, you need to enter a discount code. Consider the following two possibilities: i. The discount code is freely available during a certain period of time ii. In order to obtain the discount code, you must show proof that you are a student. What kind of price discrimination do these correspond to? Why?

Compared to perfect competition, why is the market structure of monopoly undesirable from the consumers' perspectives? Use graphs to support your answer. (b) Describe how the Internet has changed the possibility of price discrimination. (c) Suppose that Amazon offers a special discount on textbooks bought in January. In order to get the discount, you need to enter a discount code. Consider the following two possibilities: i. The discount code is freely available during a certain period of time ii. In order to obtain the discount code, you must show proof that you are a student. What kind of price discrimination do these correspond to? Why?

Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
Managerial Economics: Applications, Strategies and Tactics (MindTap Course List)
14th Edition
ISBN:9781305506381
Author:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Publisher:James R. McGuigan, R. Charles Moyer, Frederick H.deB. Harris
Chapter3: Demand Analysis
Section: Chapter Questions
Problem 1.7CE
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Compared to perfect competition, why is the market structure of monopoly undesirable from the consumers' perspectives? Use graphs to support your answer. (b) Describe how the Internet has changed the possibility of price discrimination. (c) Suppose that Amazon offers a special discount on textbooks bought in January. In order to get the discount, you need to enter a discount code. Consider the following two possibilities: i. The discount code is freely available during a certain period of time ii. In order to obtain the discount code, you must show proof that you are a student. What kind of price discrimination do these correspond to? Why?
Transcribed Image Text:Compared to perfect competition, why is the market structure of monopoly undesirable from the consumers' perspectives? Use graphs to support your answer. (b) Describe how the Internet has changed the possibility of price discrimination. (c) Suppose that Amazon offers a special discount on textbooks bought in January. In order to get the discount, you need to enter a discount code. Consider the following two possibilities: i. The discount code is freely available during a certain period of time ii. In order to obtain the discount code, you must show proof that you are a student. What kind of price discrimination do these correspond to? Why?
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