Question: Match each term to the correct definition. 1 Occurs when firms charge different prices to consumers with different Perfect competition price elasticities of demand. 2

Match each term to the correct definition. 1 Occurs when firms charge different prices to consumers with different Perfect competition price elasticities of demand. 2 When one firm constitutes the Monopolist entire industry, and the product it sells has no close substitutes. Variable costs 3 A type of market structure where neither the firm nor the buyer can Fixed costs affect the selling price. 4 Costs that will change as more Price discrimination output is produced. 5 Costs that will not change as more output is produced

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