Homework Clinic
Social Science Clinic => Economics => Topic started by: mspears3 on Jun 29, 2018
-
20 is to be divided among two individualsGary and Jamie. Which of the following allocations is NOT Pareto efficient?
A) Gary receives 1, and Jamie receives 19.
B) Gary receives 19, and Jamie receives 1.
C) Gary receives 8, and Jamie receives 9.
D) Gary receives 15, and Jamie receives 5.
Question 2
At the profit-maximizing level of production of a monopolist, ________.
A) marginal revenue equals marginal cost
B) marginal revenue exceeds marginal cost
C) marginal revenue is less than marginal cost
D) both marginal revenue and marginal cost are negative
-
Answer to Question 1
C
Answer to Question 2
A