1) Consider the following curves:

MC = 6Q

AC = (50/Q) + 3Q

Demand: P = 50 - 2Q

MR = 50 - 4Q

Once you find the answer, fill out the blank spaces For a monopolist, the profit-maximizing quantity will be _______ . They will charge a price of _______ and make the profit _______.

2) Continuing with the same curves from the previous question, graph the curves and label Qm, the price, and the profit.

3) Continuing with the same curves, what quantity would maximize efficiency?

New question, does not relate to the previous

4) This question is encouraging you to spot price discrimination in the real world. And remember, price discrimination is the same company selling the same good (or very nearly the same good) to different people at different prices. It's not selling two very different goods, and it's not two different companies selling at two different prices.

Give an example of a real-life product with price discrimination that we did not talk about in lecture or the textbook chapter.