Consider a Monopolist Who Charges a Single Price to All

question 96

Multiple Choice

Consider a monopolist who charges a single price to all of its customers. If this monopolist starts price discriminating, its output will ________ and its profit will ________.

• A)fall; rise
• B)fall; fall
• C)rise; fall
• D)rise; rise

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Definitions:

Writ of Certiorari

A court order from a higher court to a lower court to send up the records of a case for review, often used by the Supreme Court to select cases it wishes to hear.

Oral Argument

A stage in appellate cases where attorneys from both sides present their arguments to the judges or justices verbally.

Ideological Bloc

A group of countries or political parties that share and promote similar ideologies and work together to advance their common goals.

McCulloch v. Maryland

An 1819 landmark Supreme Court case that established the federal government's implied powers over the states, reinforcing the principle of national supremacy.