This topic contains a solution. Click here to go to the answer

Author Question: In the above figure, if a single-price monopolist charges the profit-maximizing price, the triangle ... (Read 110 times)

plus1

  • Hero Member
  • *****
  • Posts: 676
In the above figure, if a single-price monopolist charges the profit-maximizing price, the triangle dce represents
 
  A) consumer surplus.
  B) producer surplus.
  C) deadweight loss.
  D) marginal revenue.

Question 2

The above figure shows the cost curves for a perfectly competitive firm. If all firms in the market have the same cost curves and the price equals 16 per unit
 
  A) the market is in its long-run equilibrium.
  B) over time, firms will leave this market.
  C) the firm is making zero economic profit.
  D) over time, the price will fall as new firms enter the market.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Juro

  • Sr. Member
  • ****
  • Posts: 337
Answer to Question 1

C

Answer to Question 2

D





 

Did you know?

The most destructive flu epidemic of all times in recorded history occurred in 1918, with approximately 20 million deaths worldwide.

Did you know?

When intravenous medications are involved in adverse drug events, their harmful effects may occur more rapidly, and be more severe than errors with oral medications. This is due to the direct administration into the bloodstream.

Did you know?

In the ancient and medieval periods, dysentery killed about ? of all babies before they reach 12 months of age. The disease was transferred through contaminated drinking water, because there was no way to adequately dispose of sewage, which contaminated the water.

Did you know?

Tobacco depletes the body of vitamins A, C, and E, which can result in any of the following: dry hair, dry skin, dry eyes, poor growth, night blindness, abscesses, insomnia, fatigue, reproductive system problems, sinusitis, pneumonia, frequent respiratory problems, skin disorders, weight loss, rickets, osteomalacia, nervousness, muscle spasms, leg cramps, extremity numbness, bone malformations, decayed teeth, difficulty in walking, irritability, restlessness, profuse sweating, increased uric acid (gout), joint damage, damaged red blood cells, destruction of nerves, infertility, miscarriage, and many types of cancer.

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

For a complete list of videos, visit our video library