(a) Both Pfizer (an American pharmaceutical company) and Taobao (a Chinese online shopping platform) enjoy monopoly power. Explain the difference in the source of monopoly power between these two companies. (4 marks) (b) A profit-maximizing monopoly is considering whether to adopt a single price (i.e., one common price to all customers) policy or first-degree price discrimination. Explain the differences in (1) allocative efficiency and (ii) magnitude of consumer surplus between these two pricing policies. (6 marks) (a) Both Pfizer (an American pharmaceutical company) and Taobao (a Chinese online shopping platform) enjoy monopoly power. Explain the difference in the source of monopoly power between these two companies. (4 marks) (b) A profit-maximizing monopoly is considering whether to adopt a single price (i.e., one common price to all customers) policy or first-degree price discrimination. Explain the differences in (1) allocative efficiency and (ii) magnitude of consumer surplus between these two pricing policies. (6 marks)