Which are legal monopolies and which are natural monopolies? Can any of them price discriminate? If so, why? Use the information about the firms listed below to work Problems 1 and 2.

a Coca-Cola cuts its price below that of Pepsi-Cola to increase profit.

b A single firm, protected by a barrier to entry, produces a personal service that has no close substitutes.

c A barrier to entry exists, but the good has some close substitutes.

d A museum offers discounts to students and seniors.

e A firm can sell any quantity it chooses at the going price.

f A firm experiences economies of scale even when it produces the quantity that meets the entire market demand.