Are you interested in participating in an economics experiment where you will have chance to win a new iPod Touch (with video, wireless internet and 16GB storage) ? The experiment involves answering multiple-choice questions based on material in this course. The experiment will take place online.
If you are interested in participating, please go to the following web site for more information:
A monopolist is currently selling 50 units at $100 each. In order to sell one more unit, he would have to cut the price to $99. What is his marginal revenue?
Green Line Demand Curve
Pink Line MR curve,
A monopolist who is able to practice perfect price discrimination will sell more units than a monopolist who must charge the same price for every unit sold.
A monopolist who is able to practice perfect price discrimination will sell the same quantity that would be sold if the industry were competitive.