(Figure: Multiple-Price Monopolist) the Monopolist in the Graph Has Market

question 109

Multiple Choice

(Figure: Multiple-Price Monopolist) The monopolist in the graph has market power; she can separate the market into different consumer groups based on their elasticities of demand, and she can prevent arbitrage. The monopolist has a marginal cost of $10. If she plans to charge $40 for the first 2,500 units; $30 for the next 2,500 units; $20 for the next 2,500 units; and $10 for the final 2,500 units, this is an example of _____ price discrimination, and the producer surplus for the monopolist would be _____.

• A) third-degree; $400,000
• B) second-degree; $200,000
• C) third-degree; $200,000
• D) second-degree; $150,000

Grasp the concept and implications of logrolling in political decision-making.

Distinguish between different voting outcomes and their implications for public goods provision and project approval.

Understand the concept of majority voting and its implications on public goods provision.

Grasp the paradox of voting and how the median voter theorem operates in elections.

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