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Question 1: Which of the following firms would have the highest profit?
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Question 1: Which of the following firms would have the highest profit?a. a perfect-price discriminating monopoly

b. a single-price monopoly

c. a third-degree price discriminating monopoly


Question 2: When a firm practices perfect price discrimination, which of the following is/are true?

I. The firm sells each unit of output for the highest price someone is willing to pay for it.

II. Consumer Surplus is eliminated

III. The firm's demand curve becomes the firm's marginal revenue curve.

Step-by-step answer

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