When a rm charges each customer the maximum price that the consumer is willing to pay, the rm 0 a.engages in intertemporal price discrimination O b. engages in a peak-load pricing strategy 0 c. engages in second-degree price discrimination O d.engages in third-degree price discrimination 0 e. engages in rst-degree price discrimination The graph below represents the marginal cost of a monopolist and the demand function in this market. Suppose the monopolist can engage in rst-degree price discrimination. In this case, the producer surplus will be PS: the consumer surplus will be CS: v , and the deadweight loss will be DWL= v . 18 MC 12 9 6 Demand 12 18 Q A piano teacher charges $20 per hour for piano lessons for children and $25 per hour for piano lessons for adults. This piano teacher is engaging in O a. second-degree price discrimination O b. two-part tariff O c. first-degree price discrimination O d. peak-load pricing O e. third-degree price discriminationThe graph below represents the marginal cost of a monopolist. Consider the simpler case in which there is a single consumer with a demand function represented by the graph. Suppose the monopolist can engage in price discrimination by implementing a two-part tariff. In this case, the firm will optimally charge an usage fee p= v and an entry fee T: v . S 18 MC 12 9 6 Demand 12 18