Figure 16-3 the Lizard Lounge Is Well Known for Its

Multiple Choice

Figure 16-3 The Lizard Lounge is well known for its exotic cocktails.Figure 16-3 shows its estimated demand curve for cocktails.
-Refer to Figure 16-3.The owners of the Lizard Lounge are considering the following four pricing options: a.A single price scheme where the cocktail price equals the monopoly price.
B.A single price scheme where the cocktail price equals the competitive price.
C.A two-part tariff: a monopoly cocktail price and a cover charge that will generate total revenue equal to the area X.
D.A two-part tariff: a competitive cocktail price and whatever cover charge that will generate a total revenue equivalent to the area X + Y + Z.
Which pricing scheme(s) achieve the economically efficient outcome?

A) schemes a and c
B) scheme b
C) schemes b and d
D) scheme d only