PHYS 1060 Midterm: PHYS 106 UVA s2017Exam 1
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Curve. a horizontal line at the prevailing market price. a vertical line at the minimum value of average total costs of production. He offers customers a 10% discount if they show him a valid student i. d. at the time of purchase. This behavior by edward is an example of a monopolist erecting a substantial entry barrier. First degree price discrimination (or perfect price discrimination). Third degree price discrimination (or segmented pricing). a prisoner"s dilemma. In industry x : the largest firm produces 40% of total industry output, the second largest firm produces 20% of total industry output, and the third largest firm produces 10% of total industry output. From this information alone we know that this market is a pure monopoly. the value of the four firm concentration ratio is greater than 70. the value of the herfindahl-hirschman index must be negative. More than one of the above answers is correct.
