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The diagram at right shows the demand curve, marginal revenue curve, and cost curves for a single-price monopolist that owns the only golf courses on
The diagram at right shows the demand curve, marginal revenue curve, and cost curves for a single-price monopolist that owns the only golf courses on Eagle Island. The monopolist's product is 18-hole golf games. a. Now suppose the monopolist is able to charge a different price on each different unit sold. What would be the total number of rounds of golf sold per week? The total number of rounds sold per week is rounds. (Round your response to the nearest whole number.) What would be the price on the last round sold? The price on the last round sold is $ . (Round your response to the nearest dollar.) b. What is the value of the consumer surplus if the monopolist cannot price discriminate at all? The value of the consumer surplus is $ . (Round your response to the nearest dollar.) c. What is the value of the consumer surplus when the monopolist is practicing this "perfect" price discrimination? The value of the consumer surplus is $ . (Round your response to the nearest dollar.) d. Could this monopolist realistically engage in such a perfect price discrimination? Choose a more likely form of price discrimination that this monopolist could achieve on Eagle Island. This monopolist is most likely to engage in A. price discrimination among individual golfers since this would maximize consumer surplus. O B. perfect price discrimination since it is easy to monitor how many rounds of golf are played by each individual. O C. market segment discrimination since it would be difficult to identify what each golfer is willing to pay for a round of golf. O D. price discrimination among individual golfers since the firm would make the most profit this way.100- 90- O 80- MC 70- 60- ATC Price (dollars per round of golf) 50- 40-.. 30-+. 20- D 10- MR: 0 10 20 30 40 50 60 70 80 90 100 Quantity (rounds of golf per week)
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