1) (1 pt.) Consumers who put a high value on a service A) are better off with perfect price discrimination. B) are better off under a single-price monopoly. C) are indifferent between perfect price discrimination and a single-price monopoly. D) incur deadweight loss under either single-price monopoly or perfect price discrimination.

B) are better off under a single-price monopoly.

Explanation:

A monopoly is a market structure which is typically characterized by a single-seller who sells a unique product in the market by dominance. This ultimately implies that, it is a market structure wherein the seller has no competitor because he is solely responsible for the sale of unique products without close substitutes.

Price can be defined as the amount of money that is required to be paid by a buyer (customer) to a seller (producer) in order to acquire goods and services.

A single-price monopoly can be defined as a situation in which a business firm sells each unit of its product or service at the same price for all of its customers. Thus, it requires charging the same amount of money (price) from its customers for each unit of the product it sells.

Hence, any consumer that place or put a high value on a service are better off under a single-price monopoly because the price is universal across the company.

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