This topic contains a solution. Click here to go to the answer

Author Question: In comparison with a perfect competition, a single-price monopolist with the same costs creates a ... (Read 70 times)

geodog55

  • Hero Member
  • *****
  • Posts: 530
In comparison with a perfect competition, a single-price monopolist with the same costs creates a ________ consumer surplus and makes a ________ economic profit.
 
  A) smaller; larger
  B) smaller; smaller
  C) larger; larger
  D) larger; smaller

Question 2

In the long run, monopolistically competitive firms produce where
 
  A) excess capacity exists.
  B) the markup is equal to zero.
  C) the demand curve has shifted so that it intersects the minimum average total cost point.
  D) average total cost is minimized.



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Laurenleakan

  • Sr. Member
  • ****
  • Posts: 309
Answer to Question 1

A

Answer to Question 2

A





 

Did you know?

A good example of polar molecules can be understood when trying to make a cake. If water and oil are required, they will not mix together. If you put them into a measuring cup, the oil will rise to the top while the water remains on the bottom.

Did you know?

Only one in 10 cancer deaths is caused by the primary tumor. The vast majority of cancer mortality is caused by cells breaking away from the main tumor and metastasizing to other parts of the body, such as the brain, bones, or liver.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

Alzheimer's disease affects only about 10% of people older than 65 years of age. Most forms of decreased mental function and dementia are caused by disuse (letting the mind get lazy).

Did you know?

As many as 20% of Americans have been infected by the fungus known as Histoplasmosis. While most people are asymptomatic or only have slight symptoms, infection can progress to a rapid and potentially fatal superinfection.

For a complete list of videos, visit our video library