Use the Figure Below to Answer the Following Questions

question 40

Multiple Choice

Use the figure below to answer the following questions.

Figure 13.4.2
-Refer to Figure 13.4.2. Assume this monopolist practises perfect price discrimination. This means that

• A)the monopoly's behaviour is illegal.
• B)one price is charged to young people and a different price to older people.
• C)a different price can be charged to each buyer.
• D)price will rise as the number of buyers increases.
• E)the quantity sold will be less compared to the case of no price discrimination.

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Definitions:

Implicit Associations

The subconscious linking of two concepts or entities in the mind, which can influence attitudes and behavior.

Stereotype

A fixed, generalized idea or image of a particular group of people, often lacking nuance and accuracy.

Availability Heuristic

A quick thinking process where a person leans on the first examples that surface in their thoughts when considering a certain subject, notion, procedure, or judgment.

Explicit Bias

Prejudices or attitudes that an individual is consciously aware of and can report.