QUESTION 13With perfect price discrimination the monopolyO a. eliminates all price discrimination by charging each customer the same price.O b.charges each customer an amount equal to the monopolist's marginal cost of production.Oc. eliminates deadweight loss.O d. eliminates profits and increases consumer surplus.QUESTION 14When there is a technological advance in the cheese industry, consumer surplus in that market willO a. Decrease.O b. Increase.Oc. not change, since technology affects producers and not consumers.O d. not change, since consumers' willingness to pay is unaffected by the technological advance.QUESTION 15Consider a firm operating in a competitive market. The firm is producing 50 units of output, has an average total cost of production equal to 7 dirhams, and is earning 350dirhams economic profit in the short run. What is the current market price?O a. 12 dirhams.Ob. 10 dirhams.O c. 11 dirhams.O d. 14 dirhams.

Q13. "A monopolist with perfect price discrimination charges each buyer their maximum willingness to…

QUESTION 13 With perfect price discrimination the monopoly O a. eliminates all price discrimination by charging each customer the same price. b.charges each customer an amount equal to the monopolist's marginal cost of production. c. eliminates deadweight loss. d. eliminates profits and increases consumer surplus.