« previous next »

Author Question: A monopoly sets a market price that is higher than the marginal cost of production. This fact ... (Read 79 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?

Most strokes are caused when blood clots move to a blood vessel in the brain and block blood flow to that area. Thrombolytic therapy can be used to dissolve the clot quickly. If given within 3 hours of the first stroke symptoms, this therapy can help limit stroke damage and disability.

Did you know?

Illness; diuretics; laxative abuse; hot weather; exercise; sweating; caffeine; alcoholic beverages; starvation diets; inadequate carbohydrate consumption; and diets high in protein, salt, or fiber can cause people to become dehydrated.

Did you know?

The first monoclonal antibodies were made exclusively from mouse cells. Some are now fully human, which means they are likely to be safer and may be more effective than older monoclonal antibodies.

Did you know?

A seasonal flu vaccine is the best way to reduce the chances you will get seasonal influenza and spread it to others.

Did you know?

Alcohol acts as a diuretic. Eight ounces of water is needed to metabolize just 1 ounce of alcohol.

Predicted effects of piscivores on planktivore, herbivore, and phytoplankton biomass and production Predicted effects of piscivores on planktivore, herbivore, and phytoplankton biomass and production
Drive - In fact it was you Drive - In fact it was you
When parents actively support higher education, their children achieve more in their future careers. When parents actively support higher education, their children achieve more in their future careers.
The Nutrient Fact Panel on the food label can help consumers make smart nutrition choices The Nutrient Fact Panel on the food label can help consumers make smart nutrition choices
Eye Fact Poster Eye Fact Poster
Solve for the resultant vector for the following sets of vectors using any of the different ... Solve for the resultant vector for the following sets of vectors using any of the different ...
Video: Renin/Angiotensin (water gain from urine & Na ion and water reabsorption)

For a complete list of videos, visit our video library