1. Briefly explain the three types of price discrimination available to monopoly

Question

1. Briefly explain the three types of price discrimination available to monopoly firms. Give at least one example of each.

2. What market characteristics does Monopolistic Competition share with Perfect Competition?

What characteristics does Monopolistic Competition share with Monopoly?

3. Suppose that a small town has seven burger shops whose respective shares of the local hamburger market are (as a % of all hamburgers sold) 23%, 22%, 18%, 12%, 11%, 8%, and 6%. What is the four-firm concentration ratio of the hamburger industry in this town? What is the Herfindahl Index? If the top three sellers combined into a single business, what would happen to the Herfindahl Index and the Four-firm concentration ratio?

4. How does advertising benefit a society? In what ways can advertising be harmful?

Explanation / Answer

1.The three types of price discrimination is explained blow-

According to chegg guidelines the 1st questions is answered. Please rate

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