If a Monopolist Faces an Inverse Demand Curve, P(y) =

question 15

Multiple Choice

If a monopolist faces an inverse demand curve, p(y) = 100 - 2y and has constant marginal costs of $32 and zero fixed costs and if this monopolist is able to practice perfect price discrimination, its total profits will be

• A) $1,156.
• B) $17.
• C) $578.
• D) $1,734.
• E) $289.

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Definitions:

Deindividuation

A psychological state characterized by diminished self-consciousness, reduced concern for social evaluation, and weakened restraints against prohibited behaviors in groups.

Normative Social Influence

The influence of other people that leads us to conform in order to be liked and accepted by them, affecting our views, attitudes, and behaviors.

Informational Social Influence

The change in opinions or behavior that occurs when someone conforms to what they believe are the expectations of others, particularly in uncertain situations where the correct action or belief is unclear.

Social Facilitation

The tendency for people to perform differently when in the presence of others than when alone, typically improving on well-practiced tasks.