1. A monopolist can practice third-degree price discrimination. If demand in the United States is given by y1 = 2,000 - 20p1, where p1 is the price in the United States, and if the demand in England is given by y2 = 1,200 - 30p2, where p2 is the price in England, then the difference berween the monopolistic price charged in England and the monopolistic price charged in the United States will be a. 3 b. 6 c. 20 d.30 e. None of the above

17. A dealer decides to sell an antique card by means of an English auction with a reservation price of $300 There are two bidders. The dealer believes that there are only three possible values, $400, $500, and $550, that each bidder's willingness to pay might take. Each bidder has a probability of 1/3 of having each of these willingness to pay, and the probabilities for each of the two bidders are independent of the other's valuation. If the two hidders bid rationally and do not collude, the dealer's expected revenue from selling the card is

a. 450

b. 475

c. 500

d. 525

e. none of the above

3. 13. Suppose that a monopolist faces an inverse demand curve, p(y)= 200 - y, and a cost function, c(y) = 0.5y^2. If this monopolist can practice perfect price discrimination, then his total profit will be a. 10000 b. 25,000 C.43500 d. 65,340 e. None of the above