Hi, Can anyone please answer these questions so I can compare my answers:
- Relative to the demand curve, what does MR look like for a perfectly price discriminating monopolist.
- Can a price discriminating monopolist make more profit when it uses more prices or fewer prices?
- What conditions are necessary for a firm to price discriminate?
- Can a firm in a competitive market discriminate among buyers? Can a firm in a monopolistically competitive market?
- Do monopolistically competitive firms produce at minimum of ATC? Why or why not?
- Compare MR and AR for a monopolistically competitive firm.
- Are monopolistically competitive markets inefficient in all ways?
- Discuss the price and quantity effects for a firm in an oligopoly. How do they change as the number of firms changes?
- Is there more or less incentive to cheat if there are many firms in a cartel?
- Compare and contrast the characteristics of a competitive market, monopoly, monopolistic competition, and oligopoly.