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Let there be two consumers A and B, each buying at most two units of a good. A values having one unit at £10 and having two units at £12 whereas B values having one unit at £8 and having two units at £16. There is a monopolist providing this good at zero cost but who cannot distinguish among the two consumers.
(a) What is the pro?t maximising uniform price of the good?
(b) Now suppose instead that the monopolist may design packages and charge one price for a single unit and a separate price for a package of two units. What will be the optimal prices?
(c) What kind of price discrimination is this (?rst, second or third degree)?
(d) Describe what the other two types of price discrimination would look like here?
State the difficulties in the measurement of profit.
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Explain about the equilibrium in the labor market. Equilibrium into the Labor Market: All of firm will hire labor up to the point at that the value of the marginal product o
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Plot the demand schedule and draw the demand curve for the data given for Marijuana in the case.
Plot the demand schedule and draw the demand curve for the data given for Marijuana in the caseabove.
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