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Author Question: A monopoly sets a market price that is higher than the marginal cost of production. This fact ... (Read 39 times)

karlynnae

  • Hero Member
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  • Posts: 599
on: Jun 30, 2018
A monopoly sets a market price that is higher than the marginal cost of production. This fact implies that a monopoly's allocation of resources is:
 a. unfair.
  b. inefficient.
  c. discriminatory.
  d. excessive.

Question 2

The utility of a good measures its usefulness.
 a. True
  b. False
  Indicate whether the statement is true or false


lkanara2

  • Sr. Member
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  • Posts: 329
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

False


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