A. A price discriminating monopolist charges a higher price to customers with a:

		Higher price sensitivity.
		Cannot be determined.
		Higher willingness-to-pay.
		Lower willingness-to-pay.

B.Suppose a perfectly competitive firm sells 625 units per week. The average cost of producing each unit is $100. If each unit is sold for a price of $75, what will be the total profit or loss for the firm?

A.15,625

B. -15,625

C. -32,400

D.32,400

C.Which of the following statements is FALSE for a monopoly?

		A monopoly has low barriers to entry or exit.
		A monopoly produces a unique good with no close substitutes.
		A monopoly can make positive economic profit even in the long-run.
		A monopolys demand curve is the same as the market demand curve.