can you please answer 4 to 6 Use the following to answer questions (1)-(6): Suppose a monopolist sells a product to consumers for whicha particular consumer's choice is whether to buy 1 unit of the product or not to buy the product. In theabsence of price discrimination, the market demand for the monopolist's product is: Q-150-%P. Further,the firm's short-run total cost is: TC-1000 + 100Q. Now, knowing each consumer's reservation price,imagine the monopolist wishes to engage in first-degree price discrimination.[1] A particular consumer's reservation price corresponds to the maximum amount they a willing to payto buy 1 unit of the product.A.B.[2] Wishing to maximize profit from first-degree price discrimination, the monopolist should sell aquantity equal to:A. 50B.75C.100D.None of the above[3] Continuing question (2), at the quantity chosen the consumer willing to pay the least for the producthas a reservation price exceeding $50.A.B.[4]A.B.C.D.[5]TrueFalseA.B.C.D.[6]A.B.TrueFalseWishing to maximize profit from first-degree price discrimination, the maximum profit possible is:$20,000$10,000$9,000$4,000Wishing to maximize profit from first-degree price discrimination, consumer surplus is:$10,000$2,500$1,200SOWishing to maximize profit from first-degree price discrimination, producer surplus exceeds $5,000.TrueFalse

First-degree price discrimination is a pricing strategy employed by businesses to charge different…

Use the following to answer questions (1)-(6): Suppose a monopolist sells a product to consumers for which a particular consumer's choice is whether to buy 1 unit of the product or not to buy the product. In the absence of price discrimination, the market demand for the monopolist's product is: Q-150-%P. Further, the firm's short-run total cost is: TC-1000+ 1000. Now, knowing each consumer's reservation price, imagine the monopolist wishes to engage in first-degree price discrimination. [1] A particular consumer's reservation price corresponds to the maximum amount they a willing to pay to buy 1 unit of the product.

Use the following to answer questions (1)-(6): Suppose a monopolist sells a product to consumers for which a particular consumer's choice is whether to buy 1 unit of the product or not to buy the product. In the absence of price discrimination, the market demand for the monopolist's product is: Q-150-%P. Further, the firm's short-run total cost is: TC-1000+ 1000. Now, knowing each consumer's reservation price, imagine the monopolist wishes to engage in first-degree price discrimination. [1] A particular consumer's reservation price corresponds to the maximum amount they a willing to pay to buy 1 unit of the product.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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