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Category > Economics Posted 22 Jun 2017 My Price 10.00

Economics for Managers Assignment: Market Power and Price Discrimination

I have the follwing question that I need help with

 

1.     (20 points) Compare a situation of market competition, monopoly, and monopoly with first-degree *+price discrimination on a single graph. Assume that the firms are maximizing profits. Assume that the supply curve for the competitors is the same as the marginal cost curve for the monopoly situations.  Draw the Supply Curve (marginal cost curve) with an upward slope. For the three situations compare

·       the price (or prices) charged consumers (3 points),

·       the quantity sold (3 points),

·       consumer surplus (3 points),

·       producer surplus (3 points),

·       total gains from trade (3 points). 

·       In which situations will there be deadweight losses? (2 points) 

·       When comparing the single-price monopoly to the first-degree price discriminator, are there any consumers who are better off from the switch to first-degree price discrimination? (3 points)

 

Graph Here:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fill in the grid Below

 

Competition

Single Price Monopoly

 First-Degree Price Discrimination

i. Price (or Prices)

 

 

 

 

ii. Quantity sold

 

 

 

 

iii. Consumer Surplus

 

 

 

iv. Producer Surplus 

 

 

 

v. Total Gains from Trade 

 

 

 

vi. Deadweight Loss

 

 

 

vii. Better off consumers

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SuperTutor
(15)
Status NEW Posted 22 Jun 2017 03:06 AM My Price 10.00

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