1. A producer is said to price discriminate if it does which of the following? 1.If it charges some consumers a lower price than it charges other consumers because it likes some consumers more than it likes other consumers. 2.If it charges some consumers a lower price than it charges other consumers because some consumers have a lower reservation price than other consumers. 3.It is pays it suppliers a lower price than it charges its customers. 4.If it pays a lower price for its labor input than it pays for its capital input. 5.None of the above 2. Which of the following is not a characteristic of a market served by a monopoly? 3. Which of the following statements is true?