Author Question: An allocation in which one person can be made better off only by making someone else worse off is ... (Read 37 times)

laurencescou · **on:** Jul 1, 2018

An allocation in which one person can be made better off only by making someone else worse off is

A) inefficient.
B) efficient.
C) a partial equilibrium.
D) a general equilibrium.

Question 2

Refer to Scenario 12.1. What will be the price in the long run if the industry is a Cournot duopoly?

A) 400
B) 600
C) 800
D) 900
E) Competition will drive the price to zero.