The output produced by the single-price, unregulated monopoly in the above figure is
A) efficient because profit is maximized.
B) inefficient because less than the efficient quantity is produced.
C) efficient because marginal costs equals marginal revenue.
D) inefficient because more than the efficient quantity is produced.
Question 2
Meat at the supermarket has contributed to increase in food prices in 2010, and high feed and fuel prices mean that steak will likely cost a lot more this fall. The price of feed has increased 50 percent and hay has doubled from two years ago.
Based on this information, which of the following is TRUE in the market for beef? A) Consumer surplus will decrease.
B) Producer surplus will increase.
C) Equilibrium price will decrease.
D) Equilibrium quantity will increase.
Unregulated populations "J-shaped curve"
Price of Computers, 1982–2010
Effect of an Increase in gA,2 on Productivity and Output
The cube of insulating material shown in the figure has one corner at the origin. Each side of ...
Some human traits controlled by a single gene
Figure 2.15.jpg