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Author Question: A market economy produces the optimal amount of each good at least cost where: A) P > ATC. B) ... (Read 47 times)

stephzh

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on: Jun 29, 2018
A market economy produces the optimal amount of each good at least cost where:
 
  A) P > ATC.
  B) P = ATC.
  C) P > AVC.
  D) P = MR.

Question 2

Refer to the figure above. After the market changes from perfectly competitive to a monopoly:
 
  A) the social surplus decreases.
  B) the market price decreases.
  C) the deadweight loss decreases.
  D) the consumer surplus increases.


bd5255

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Reply #1 on: Jun 29, 2018
Answer to Question 1

B

Answer to Question 2

A


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