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In a monopoly with first degree price discrimination: a) The firm produces at the level where the marginal cost crosses the demand curve b) The
In a monopoly with first degree price discrimination:
a) The firm produces at the level where the marginal cost crosses the demand curve
b) The firm produces at the level where the marginal cost crosses the marginal revenue curve c) The firm is unable to identify the different buyers
d) The firm sells each unit of output at a price just equal to the buyers maximal willingness to pay for that unit
e) Consumer surplus is zero
f) The firm offers the same price schedule to all buyers g) Buyers sort themselves through self-selection
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