Any one-off or all price discrimination, bundling and two-part tariffs are not strategies applied by business firms to capture consumer surplus
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- Would producer surplus with second-degree price discrimination not below a single price.Determine and compare the amount of consumer surplus and producer surplus if the service is provided by competitive firms and by the monopolist.Each consumer has the following demand for annual visits to Planet Fitness: Q = 200 - P (or P = 200 - Q), where Q is the number of visits to Planet Fitness per year and P is the price per visit. In western Maryland, Planet Fitness has a monopoly on the gym market in the area. If the marginal cost of serving each customer is $10 per visit, what is the optimal two-part tariff that Planet Fitness could charge each customer? Annual fee = $18,050; P = $0 for each visit. Annual fee = $20,000; P = $0 for each visit. Annual fee = $18,050; P = $10 for each visit. Annual fee = $20,000; P = $10 for each visit.
- Two curves that remain parallel as the quantity of output increases are:. Single choice. Total fixed cost and total variable cost. Total cost and total variable cost. Average fixed cost and average variable cost. Average total cost and average fixed cost. Which of the following is necessary for a natural monopoly?. Single choice. economies of scale copy rights government regulations all of the above Price discrimination involves. Single choice. firms selling different products at different prices to different consumers. firms selling the same product at different prices to different consumers. consumers discriminating between different sellers on the basis of the different prices they quote for different products. consumers discriminating between different sellers on the basis of the different prices they quote for the same product. A profit-maximizing firm in a competitive market is currently producing 100 units of output. It has average revenue…Suppose inverse demand is given by P = 1 − Q, and costs are c = 0.2q. What marginal price will be paid if a monopolist can practice fifirst-degree price discrimination? Calculate the surplus received by consumers and the monopolist in this case.Discuss to what extent you agree with the following statements Price discrimination is beneficial for the society in general but it is difficult to practice in real world
- When a monopolist faces two types of outwardly indistinguishable consumers, one with a higher willingness to pay then the other, then, by using non-linear pricing, the monopolist will extract the entire consumer surplus from the customer with the high willingness to pay and only part of the surplus from the customer with the lower willingness to pay. True or False?Each consumer has the following demand for annual visits to a park is: Q = 100 - P, where Q is the number of visits to the park per year and P is the price per visit. In Kentucky, this particular park has a monopoly on the park market in the area. If the marginal cost of serving each customer is $10 per visit, what is the optimal two-part tariff that this park could charge each customer? Answer OptionsAnnual Fee = $4050; P= $10 for each visit Annual Fee = $4050; P= $0 for each visit Annual Fee = $5000; P= $10 for each visitAnnual Fee = $5000; P= $0 for each visitWhich of the following is true for a monopolist that engages in perfect price discrimination? a. There is more consumer surplus than exists with a regular monopoly. b. The firm sells the profit-maximizing quantity of the regular monopolist but charges each consumer a price higher than the regular monopoly price. c. The monopolist sells the allocatively efficient quantity of output. d. The monopolist further restricts output compared to the regular monopoly, creating greater deadweight loss. e. The monopolist no longer faces a downward-sloping demand curve, becoming a price taker.
- Each consumer has the following demand for annual visits to Planet Fitness: Q = 100 - P, where Q is the number of visits to Planet Fitness per year and P is the price per visit. In western Maryland, Planet Fitness has a monopoly on the gym market in the area. If the marginal cost of serving each customer is $10 per visit, what is the optimal two-part tariff that Planet Fitness could charge each customer? Annual fee = $4,050; P = $10 for each visit Annual fee = $5,000; P = $0 for each visit. Annual fee = $4,050; P = $0 for each visit. Annual fee = $5,000; P = $10 for each visit.Q20 With regard to price discrimination, we can generally say that a monopolist practicing perfect price discrimination _____ a single-price monopolist in the same market. a. Produces the same output level and charges the same price as. b. Produces a lower level of output compared to. c. Generates more consumer surplus than. d. Generates a more efficient outcome for society as a whole compared to. e. Has the same effects on consumer welfare as.Price discrimination is one of the features of which type of the market economy?