Optimal design of a profit-maximising second degree price discrimination scheme involvesO a. offering high-demand consumers the socially efficient quantity for their type and offering low-demandconsumers more than the socially efficient quantity for their type.O b. offering high-demand consumers less than the socially efficient quantity for their type and offering low-demand consumers the socially efficient quantity for their type.Oc. offering both high-demand and low-demand consumers the socially efficient quantity for their type.O d. none of the other answersO e. offering both high-demand and low-demand consumers less than the socially efficient quantity for their type.A competitive market has demand of Q = 50 - 0.5P and total cost of production is C=70q for each firm. What is theeffect of an innovation by one firm that gives a marginal cost of $28?Select one:O a. This is a non-drastic innovation that causes the market quantity to be 18.Ob. This is a drastic innovation that causes the market quantity to be 19.Oc. This is a non-drastic innovation that causes the market quantity to be 19.O d. This is a drastic innovation that causes the market quantity to be 18.O e. This is a drastic innovation that causes the market quantity to be 36.Suppose the market demand curve is given by the equation Q = 10 - 0.5P and the marginal cost (and average cost) is6. What is the difference in consumer surplus between a competitive market and a monopoly?O a. none of the other answersO b. 36.75O c. 26.75O d. 32.75O e. 33.75

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Optimal design of a profit-maximising second degree price discrimination scheme involves O a. offering high-demand consumers the socially efficient quantity for their type and offering low-demand consumers more than the socially efficient quantity for their type. O b. offering high-demand consumers less than the socially efficient quantity for their type and offering low- demand consumers the socially efficient quantity for their type. Oc. offering both high-demand and low-demand consumers the socially efficient quantity for their type. O d. none of the other answers O e. offering both high-demand and low-demand consumers less than the socially efficient quantity for their type.

Optimal design of a profit-maximising second degree price discrimination scheme involves O a. offering high-demand consumers the socially efficient quantity for their type and offering low-demand consumers more than the socially efficient quantity for their type. O b. offering high-demand consumers less than the socially efficient quantity for their type and offering low- demand consumers the socially efficient quantity for their type. Oc. offering both high-demand and low-demand consumers the socially efficient quantity for their type. O d. none of the other answers O e. offering both high-demand and low-demand consumers less than the socially efficient quantity for their type.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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