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State whether the following statements are True or False, and explain/show why. A single-price monopolist maximizes...

State whether the following statements are True or False, and explain/show why.

  1. A single-price monopolist maximizes profit where marginal benefit is at its maximum.
  2. A single-price monopolist maximizes profit where marginal cost is at its minimum.
  3. The profit-maximizing point for a single-price monopolist is also the revenue maximizing point.
  4. In general, price discrimination raises the efficiency of markets.
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Homework Answers

Answer #1

a) Fasle

b) False

c) false

d)True

Explanation

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