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Screen Shot 2017-11-09 at 1.53.20 PM.png - 1m-| Monopon...

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Unformatted text preview: 1m:- --|- Monopon Outcome Profit Consumer Surplus Desowelght Loss PRICE {Dollars per pai‘ of Ooh boots] 3 8 S E E: 3 8 8 ----+ D 40 50 120 150 200 240 280 320 350 400 QUANTITY [Palrs of hauls} Consider the welfare efiects when the Industry operates under a monopon and cannot price discriminate versus when it can price discriminate. Compiete the foiio wing table by indicating under which market conditions each of the statements is true. (Note: If the statement isn’t true fior eithe sinyie-price monopolies or perfect price discrimination, leave the entire row unchecked.) Check aii that appiy. Slngle—prlee Monopoly Perfect Price Dlscrlmlnltlon Barefeet produces a quantity more than the efficient quantity' of I:J-oh boots. [—1 [—1 Total surplus is maxlmlzed. Fl There Is deadwelght loss associated with the profit-maximizing output. ...
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