A monopolist is using third-degree price discrimination. Which of the following statements are true? I. If a monopolist can use either the first-degree price discrimination or the third-degree price discrimination, then using third-degree price discrimination results in strictly higher profit than using first-degree price discrimination. II. A monopolist using third-degree price discrimination needs to know the willingness to pay of different groups of consumers III. Student discounts are an example of third-degree price discrimination

Group of answer choices

Which of the statements about the short-run are true? I. Average fixed cost is always declining II. Because of diminishing marginal product, average variable cost is eventually upward-sloping III. When marginal cost is below the average total cost, the average total cost is falling as quantity increases

Group of answer choices

only I and II are true

None of the other answers is correct

I, II, and III are true

only I and III are true

only II and III are true

Consider a monopolist facing a demand curve of P = 100 20q, where P is market price and q is quantity. The monopolist has a constant marginal cost curve of $50 per unit. What is the monopolists marginal revenue curve (MR)?

Group of answer choices

MR = 100 40q

MR = 100 20q

None of the other answers is correct

MR =200 20q

MR = 50