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Author Question: Compared to a perfectly competitive industry, a single-price monopoly with the same costs will A) ... (Read 61 times)

JMatthes

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on: Jun 29, 2018
Compared to a perfectly competitive industry, a single-price monopoly with the same costs will
 
  A) create less consumer surplus.
  B) create less economic profit.
  C) create a deadweight loss.
  D) Both answers A and C are correct.

Question 2

A firm's price rises. As a result, the
 
  A) supply of labor to the firm decreases, that is, the labor supply curve shifts leftward.
  B) supply of labor to the firm increases, that is, the labor supply curve shifts rightward.
  C) demand for labor by the firm increases, that is, the labor demand curve shifts rightward.
  D) demand for labor by the firm decreases, that is, the labor demand curve shifts leftward.


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xoxo123

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

D

Answer to Question 2

C


JMatthes

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Reply 2 on: Jun 29, 2018
Great answer, keep it coming :)

ghepp

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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