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

Author Question: How do the price, output, consumer surplus, economic profit, and total surplus for a single-price ... (Read 108 times)

ahriuashd

  • Hero Member
  • *****
  • Posts: 535
How do the price, output, consumer surplus, economic profit, and total surplus for a single-price monopoly compare to that of a competitive industry?
 
  What will be an ideal response?

Question 2

If the production of a good gives rise to negative externalities, ________.
 
  A) the fixed cost of production is zero
  B) the variable cost of production is zero
  C) the private cost of production exceeds the social cost of production
  D) the social cost of production exceeds the private cost of production



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

frankwu0507

  • Sr. Member
  • ****
  • Posts: 322
Answer to Question 1

For the monopoly, price is higher, output is lower, consumer surplus is less, economic profit is larger, and total surplus is smaller relative to a competitive industry.

Answer to Question 2

D




ahriuashd

  • Member
  • Posts: 535
Reply 2 on: Jun 29, 2018
Wow, this really help


ashely1112

  • Member
  • Posts: 347
Reply 3 on: Yesterday
:D TYSM

 

Did you know?

Critical care patients are twice as likely to receive the wrong medication. Of these errors, 20% are life-threatening, and 42% require additional life-sustaining treatments.

Did you know?

Since 1988, the CDC has reported a 99% reduction in bacterial meningitis caused by Haemophilus influenzae, due to the introduction of the vaccine against it.

Did you know?

Women are 50% to 75% more likely than men to experience an adverse drug reaction.

Did you know?

Asthma-like symptoms were first recorded about 3,500 years ago in Egypt. The first manuscript specifically written about asthma was in the year 1190, describing a condition characterized by sudden breathlessness. The treatments listed in this manuscript include chicken soup, herbs, and sexual abstinence.

Did you know?

All patients with hyperparathyroidism will develop osteoporosis. The parathyroid glands maintain blood calcium within the normal range. All patients with this disease will continue to lose calcium from their bones every day, and there is no way to prevent the development of osteoporosis as a result.

For a complete list of videos, visit our video library