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Author Question: _____ is the practice of using extra resources to compete for obtaining monopoly, and leads to ... (Read 59 times)

JMatthes

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on: Jun 30, 2018
_____ is the practice of using extra resources to compete for obtaining monopoly, and leads to _____.
 a. X-inefficiency; a deadweight loss
  b. Rent seeking; a deadweight loss
  c. X-inefficiency; a loss in producer surplus
  d. Rent seeking; a loss in producer surplus

Question 2

Which of the following is true of the demand curve faced by a monopolist?
 a. A monopolist's demand curve is infinitely elastic.
 b. A monopolist's demand curve is more elastic than a competitive firm's demand curve.
  c. A monopolist faces a relatively inelastic demand curve.
 d. A monopolist's demand curve coincides with its marginal revenue curve.
 e. A monopolist faces a positively sloped demand curve.


Ksh22

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Reply #1 on: Jun 30, 2018
Answer to Question 1

B

Answer to Question 2

c


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