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QUESTION 12 Airline tickets are a classic example of price discrimination. The basis for this claim is: O that travelers may pay different prices based on when they purchased the ticket relative to departure date. that travelers may pay different prices based on when they depart and return, especially by paying lower prices for a trip with a Saturday night stay. O that travelers may pay different prices based on how many tickets they purchased for the flight. O All of the above. None of the above. QUESTION 13 Barriers to entry are essential to monopolies being able to earn monopoly profits in the long run. Why? O In the absence of a barrier to entry, a monopolist should expect competitors to try to imitate its product and take some of its customers A barrier to entry allows a monopolist to charge an entry fee to consumers and increase profits. O A barrier to entry lowers production costs for the monopolist. O In the absence of a barrier to entry, the monopolist will have to increase its capital-labor ratio and cannot minimize its costs. A barrier to entry forces all of a monopolist's competitors to shut down immediately. QUESTION 14 While a profit-maximizing firm in a competitive market can get by with paying attention to only the a firm with market power will not be able to maxmize profits without more specific information about O consumer demand; market price market price; government policy I Proctorio is sharing your screen. Stop sharing Hide O market price; consumer demand Asamnaliter actions. notAntial Antranto