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A Monopolist Who Is Able to Practice Third-Degree Price Discrimination

question 34

True/False

A monopolist who is able to practice third-degree price discrimination charges a higher price in the market that is more elastic.


Definitions:

Polygyny

A form of marriage in which a man is allowed to have more than one wife.

Serial Monogamy

A marriage form in which a man or a woman marries a series of partners in succession.

Extended Family

A family unit that extends beyond the nuclear family to include other relatives such as grandparents, aunts, uncles, and cousins.

Residential Unit

A dwelling or habitation where an individual or group of people live, often considered in the context of social and family structures.

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