A Profit-Maximizing Monopolist Practices Third-Degree Price Discrimination

question 24

True/False

A profit-maximizing monopolist practices third-degree price discrimination.If he charges p₁ in market 1 and p₂ in market 2, where p₁ > p₂, then if the law forced him to charge the same price in both markets, more would be demanded in market 1 than in market 2.

---

Definitions:

Flight Attendants

Flight attendants are airline personnel responsible for ensuring the safety, comfort, and service for passengers aboard flights.

Construction Workers

Individuals skilled in physical labor on construction sites, involved in building, infrastructure development, and demolition.

Cognitive Component

Relates to the mental processes involved in gaining knowledge and comprehension, including aspects of reasoning, perception, and judgment.

Attitude

A psychological tendency expressed by evaluating a particular entity with some degree of favor or disfavor.