The deadweight loss from a monopoly refers to a. the portion of ...

[jwb375]

The deadweight loss from a monopoly refers to
 a. the portion of a monopolist's profits that are above the competitive profit level.
  b. the increase in price due to the monopolization of a market.
  c. the inefficient use of factors of production by a monopoly.
  d. the loss of consumer surplus due to the monopolization of a market that is not transferred to another economic actor.

Question 2

If a monopoly is maximizing profits,
 a. price will always be greater than the elasticity of demand.
  b. price will always equal marginal cost.
  c. price will always be greater than marginal cost.
  d. price will always equal marginal revenue.

[dpost18]

Answer to Question 1

d

Answer to Question 2

c

[jwb375]

Excellent

[bitingbit]

Thanks for the timely response, appreciate it