Look back to the diagram of the monopolist on Eagle Island in Question 3.
a. Suppose the monopolist is able to practise perfect price discrimination. What would be the total number of rounds of golf sold per week? What would be the price on the last round sold?
b. What is the area representing consumer surplus in the absence of any price discrimination?
c. What is the area representing consumer surplus when the monopolist is practising perfect price discrimination?
d. Could this monopolist realistically engage in perfect price discrimination? Describe a more likely form of price discrimination that this monopolist could achieve on Eagle Island.