239.Which of the following industries is most likely closest to achieving perfect price discrimination?
240.If the market in the figure above is perfectly competitive, consumer surplus is the area ________.
241.Using the figure above, which of the following statements are correct?
ii.If the firm charges each customer the same price for a haircut, the price of haircut is $14 iii.The firm is NOT a perfect competitor.
242.The outcome of regulating a natural monopoly using the marginal cost pricing rule is
243.A natural monopoly's average cost curve
iii.Intersects the demand curve below the intersection of the marginal cost curve and the demand curve.
244.Which of the following can be a barrier to entry?
ii.Requiring a government license iii.Large diseconomies of scale
245.Ownership of a necessary input creates what type of barrier to entry?
246.A natural monopoly?
247.If a producer wants a monopoly with a legal barrier to entry, how can this be done?
248.Compared to a perfectly competitive market, a single-price monopoly sets