Author Question: The smaller U.S. mainframe computer and peripheral equipment manufacturers of the 1960s (the Bunch) ... (Read 58 times)

Jipu 123 · **on:** Jun 30, 2018

The smaller U.S. mainframe computer and peripheral equipment manufacturers of the 1960s (the Bunch) were perfect competitors, since they produced homogenous products and had little control over the market price.
Indicate whether the statement is true or false

Question 2

The long-run equilibrium price-output combination for a monopolist is economically inefficient because:
a. it does not operate on the minimum point of its marginal-cost curve.
b. it does not produce the level of output at which price equals marginal cost.
c. consumer surplus is maximized but not producer surplus.
d. producer surplus is maximized but not consumer surplus.
e. it operates on the downward sloping portion of the average-total-cost curve.