« previous next »

Author Question: A monopoly sets a market price that is higher than the marginal cost of production. This fact ... (Read 75 times)

karlynnae

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

b

Answer to Question 2

False


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

Certain rare plants containing cyanide include apricot pits and a type of potato called cassava. Fortunately, only chronic or massive ingestion of any of these plants can lead to serious poisoning.

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

The training of an anesthesiologist typically requires four years of college, 4 years of medical school, 1 year of internship, and 3 years of residency.

Did you know?

The tallest man ever known was Robert Wadlow, an American, who reached the height of 8 feet 11 inches. He died at age 26 years from an infection caused by the immense weight of his body (491 pounds) and the stress on his leg bones and muscles.

Did you know?

After 5 years of being diagnosed with rheumatoid arthritis, one every three patients will no longer be able to work.

El Niño and areas of high marine primary production around the Galapagos Islands. Noti El Niño and areas of high marine primary production around the Galapagos Islands. Noti
A typical distillation curve. Heavier molecules evaporate at higher temperatures and contain more ... A typical distillation curve. Heavier molecules evaporate at higher temperatures and contain more ...
Mechanism of action of anti-parkinson drugs. (a) Levodopa therapy increases dopamine production; (b) ... Mechanism of action of anti-parkinson drugs. (a) Levodopa therapy increases dopamine production; (b) ...
World Aquaculture Production "لإنتاج العالمي لتربية الأحياء" World Aquaculture Production "لإنتاج العالمي لتربية الأحياء"
Conventional oil reserves have passed peak production Conventional oil reserves have passed peak production
Major U.S. Centers of Cattle, Corn, Wheat, and Soybean Production Major U.S. Centers of Cattle, Corn, Wheat, and Soybean Production
Video: Kidney Stones

For a complete list of videos, visit our video library