【每日一练】CFA 一级（2015年）

Question：

Which of the following is the least likely outcome when a monopolist adopts first-degree price  discrimination because of customers' differing demand elasticities? 
A. The monopolist shares the total surplus with consumers. 
B. The output increases to the point at which price equals the marginal cost. 
C. The price for a marginal unit decreases to less than the price for other units. 

Answer = A 
In a monopoly, perfect price discrimination results in the total surplus being kept by the producer, the monopolist.

CFA Level I
“The Firm and Market Structures,” by Richard G. Fritz and Michele Gambera
Section 6.4

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