If a Firm Is Able to Price-Discriminate

question 33

Multiple Choice

If a firm is able to price-discriminate:

• A) some groups of the population will benefit.
• B) the monopolist earns a lower profit but all consumers gain.
• C) all consumers are worse off.
• D) both the monopolist and the consumer are worse off.

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Definitions:

Wavelengths

The distance between successive peaks of a wave, especially points in a sound wave or electromagnetic wave.

Trichromatic Theory

The idea that three types of cone receptor cells in the retina are responsible for color perception. Each type responds optimally to different, but overlapping, ranges of wavelengths.

L Cones

Photoreceptor cells in the retina that are sensitive to long wavelengths of light, contributing to color vision, particularly red colors.

M Cones

Photoreceptor cells in the retina specialized for medium-wavelength light, contributing to color vision and perception of green hues.