A Monopoly Can Price Discriminate Between Two Groups of Consumers

question 1

Multiple Choice

A monopoly can price discriminate between two groups of consumers if each group has _______.

• A) the ability to resell the good to the other group
• B) a large consumer surplus
• C) a different willingness to pay
• D) the same willingness to pay

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Definitions:

Self-efficacy

A person's belief in their ability to succeed in specific situations or accomplish a task, which can play a significant role in how goals, tasks, and challenges are approached.

Mastery Orientation

An approach to learning where the focus is on gaining knowledge or skill and understanding the task rather than on outward signs of success or comparison to others.

Performance Orientation

A focus on achieving outcomes and a standard of excellence, often characterized by setting high goals and seeking feedback on performance.

Innate Ability

Abilities that are present from birth, not acquired or learned through experience.