The Table Given Below Shows the Price, Marginal Revenue and Marginal

question 9

Multiple Choice

The table given below shows the price, marginal revenue and marginal cost of a monopolist at different levels of the output. The firm does not incur a fixed cost of production.Table 11.4

-Which of the following is true of a firm that can successfully practice price discrimination?

• A)Its total revenue is often reduced.
• B)It appropriates a part of the consumer surplus.
• C)It has no way of distinguishing between types of customers.
• D)It has no market power in the industry.
• E)It must be a perfectly competitive firm.

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Definitions:

Bundle Sheath

Bundle sheath cells are specialized cells surrounding the vascular bundles in plants; they play a crucial role in the C4 photosynthetic pathway by concentrating CO2 around the enzyme RuBisCO.

Underground Stems

Stems that grow beneath the surface of the soil which function in nutrient storage and vegetative reproduction.

Fleshy Leaves

Thickened leaves adapted for water storage, common in plants that live in arid environments.

Bulbs

Underground storage organs, consisting of a short stem surrounded by fleshy scales (leaves), used for plant propagation.