Relative to a perfectly competitive market for an exhaustible ...

[shofmannx20]

Relative to a perfectly competitive market for an exhaustible resource, the monopolist charges a ________ price and uses the resource more ________.
 
  A) lower, slowly
  B) lower, quickly
  C) higher, slowly
  D) higher, quickly

Question 2

Refer to Scenario 10.9. At the profit maximizing level of output, what is the deadweight loss?
 
  A) 0
  B) 450
  C) 900
  D) 1,800
  E) none of the above

[Natalie4ever]

Answer to Question 1

C

Answer to Question 2

C

[shofmannx20]

Thanks for the timely response, appreciate it

[amandalm]

Great answer, keep it coming