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Author Question: Of the following, consumer surplus is largest for A) a perfectly competitive industry. B) a ... (Read 32 times)

crobinson2013

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on: Jun 29, 2018
Of the following, consumer surplus is largest for
 
  A) a perfectly competitive industry.
  B) a single-price monopoly.
  C) any price-discriminating monopoly.
  D) a perfectly price-discriminating monopoly.

Question 2

Increasing marginal returns means that as the firm expands its output, its
 
  A) long-run average total cost increases.
  B) long-run average total cost decreases.
  C) short-run average total cost increases.
  D) short-run average total cost decreases.


brbarasa

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Reply #1 on: Jun 29, 2018
Answer to Question 1

A

Answer to Question 2

D


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