Author Question: At the efficient level of production, ________. A) producer surplus must be greater than consumer ... (Read 55 times)

biggirl4568 · **on:** Jun 29, 2018

At the efficient level of production, ________.

A) producer surplus must be greater than consumer surplus
B) consumer surplus must be greater than producer surplus
C) there is no deadweight loss
D) the market price is greater than the monopoly price

Question 2

In the above figure, by increasing its output from Q1 to Q2, the firm

A) reduces its marginal revenue.
B) increases its marginal revenue.
C) decreases its profit.
D) increases its profit.