38. a price-discriminating monopolist: a.produces quality products only b.does n

Question

38. a price-discriminating monopolist:

a.produces quality products only

b.does not sell products to minority groups

c.must have a very large operation

d.sells the same product in different markets at different prices

e.would not engage in dumping

39.the price elasticities of demand for pharmaceuticals differs among the eight customer classes. If AARP has the most elastic demand of the eight customer classes, it will:

a.receive the greatest quantity of pharmaceuticals

b.receive the smallest quantity of pharmaceuticals

c.receive the pharmaceuticals at the lowest price

d.receive the pharmaceuticals at the highest price

e.be unable to obtain pharmaceuticals

40.for effective price discrimination, the monopolist does not have to :

a.be earning a positive economic profit

b.be able to prevent the resale of the product by the original buyers

c.be a price maker

d.be able to separate buyers into different markets with different price elasticities

e.be a profit-maximizing firm

Explanation / Answer

38. D. Sells same product in different markets at different prices

39. C. Receive pharmaceutical at lowest rate

40. A. Be earning positive economic profit

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