Q1) In which of the following industries/products is a natural monopoly least likely to arise?

1) Electricity/power

2) Railroads

3) Water treatment

4) Agriculture

Q2) Which of the following would NOT result from a profit-maximizing monopolist firm becoming able to perfectly price discriminate?

1) The firm's profits increase

2) Deadweight loss increases

3) Quantity supplied increases

4) Quantity supplied stays the same as that supplied in a perfectly competitive market