1. (4.0 points) A consumer goes to eBay and bids on a popular item. The higher a consumer's willingness to pay, the higher the price it will ultimately sell at. Through bidding, an item is sold to a certain consumer at their highest willingness to pay. This is best closely characterized as an example of A. first degree price discrimination B. second degree price discrimination C. third degree price discrimination none of the above 2. (4.0 points) Target offers Oral-B regular toothbrushes for $3.99 and they offer Oral-B electric toothbrushes for $49.99. Different types of consumers will have different demands for the tooth brushes. This best characterizes an example of A. first degree price discrimination B. second degree price discrimination C. third degree price discrimination D. none of the above11. (4.0 points) AbbieVie is a pharmaceutical company that produces the biologic drug Humira for treating autoimmune conditions. AbbieVie is the only firm that can sell Humira while it remains patent protected. The company faces an inverse demand equal to P= 40- 20, and MR= 40-40. . AbbieVie's total cost is C(Q)= 40+ Q2and they have a marginal cost of MC=4+2Q. . Suppose the firm sets a single linear monopoly price. How much profit does the firm make? 36 81 108 198 12. (4.0 points) AbbieVie is a pharmaceutical company that produces the biologic drug Humira for treating autoimmune conditions. Using the same information from #9. Suppose the firm sets a single linear monopoly price. How much deadweight loss is there in the market? 9 18 27 36