Part IV: Firms and Factors Markets

6)When is price discrimination likely to increase total surplus?

7)When a firm in an oligopoly reduces output, who gets most of the gains from the reduction: the firm that reduces output or the other firms in the industry?

8)Why do we classify McDonald’s and Burger King as monopolistic competitors rather than as pure competitors? Isn’t a hamburger just a hamburger?

9)From a profit making perspective, why is employer discrimination just plain dumb?

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Part IV: Firms and Factors Markets

6)When is price discrimination likely to increase total surplus?

7)When a firm in an oligopoly reduces output, who gets most of the gains from the reduction: the firm that reduces output or the other firms in the industry?

8)Why do we classify McDonald’s and Burger King as monopolistic competitors rather than as pure competitors? Isn’t a hamburger just a hamburger?

9)From a profit making perspective, why is employer discrimination just plain dumb?

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