Give below are two statements:
Statement - I: Under first degree price discrimination, monopolist sells different units of output for different prices and these prices may differ from person to person.
Statement - II: Under third degree price discrimination, monopolist sells different units of output for different prices, but every individual who buys the same amount of the good pays the same price.
In the light of the above statements, choose the correct answer from the options given below:
1
Both Statement I and Statement II are true.
2
Both Statement I and Statement II are false.
3
Statement I is true but Statement II is false.
4
Statement I is false but Statement II is true.