ECON 101 Saudi Electronic University Micro economics Questions Avoid plagiarism, the work should be in your own words, copying from other resources without proper referencing will result in ZERO marks. No exceptions. All answered must be typed using Times New Roman (size 12, double-spaced) font. No pictures containing text will be accepted and will be considered plagiarism). 1. Explain the effects of low price-guarantee on the price. 2. If a group of sellers could form a cartel, what quantity and price would they try to set? 3. What do you understand by discriminatory monopoly? Bring out the conditions that enables the monopoly firm to charge different prices for its product in different markets.