This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What is deadweight loss? a. It is the amount of surplus that consumers lose due to monopoly. b. It ... (Read 25 times)

waynest

  • Hero Member
  • *****
  • Posts: 553
on: Jun 30, 2018
What is deadweight loss?
 a. It is the amount of surplus that consumers lose due to monopoly.
  b. It is the amount of surplus that producers lose due to perfect competition.
  c. It is the amount of surplus which is completely lost to society due to monopoly.
  d. It is the amount of surplus which was earned by consumers under perfect competition and is transferred to producers due to monopoly.

Question 2

If a firm has a perfectly elastic demand curve, then:
 a. it must be a monopoly firm.
  b. it can charge any price it desires.
  c. the firm has significant market power.
  d. the firm has no market power.
  e. the firm should shut down.


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

Brenm

  • Sr. Member
  • ****
  • Posts: 359
Reply #1 on: Jun 30, 2018
Answer to Question 1

C

Answer to Question 2

d


waynest

  • Hero Member
  • *****
  • Posts: 553
Reply #2 on: Jun 30, 2018
Thank you


Brenm

  • Sr. Member
  • ****
  • Posts: 359
Reply #3 on: Jun 30, 2018
No problemo


« previous next »
 

Did you know?

The first war in which wide-scale use of anesthetics occurred was the Civil War, and 80% of all wounds were in the extremities.

Did you know?

Drug abusers experience the following scenario: The pleasure given by their drug (or drugs) of choice is so strong that it is difficult to eradicate even after years of staying away from the substances involved. Certain triggers may cause a drug abuser to relapse. Research shows that long-term drug abuse results in significant changes in brain function that persist long after an individual stops using drugs. It is most important to realize that the same is true of not just illegal substances but alcohol and tobacco as well.

Did you know?

Immunoglobulin injections may give short-term protection against, or reduce severity of certain diseases. They help people who have an inherited problem making their own antibodies, or those who are having certain types of cancer treatments.

Did you know?

In 1885, the Lloyd Manufacturing Company of Albany, New York, promoted and sold "Cocaine Toothache Drops" at 15 cents per bottle! In 1914, the Harrison Narcotic Act brought the sale and distribution of this drug under federal control.

Did you know?

The eye muscles are the most active muscles in the whole body. The external muscles that move the eyes are the strongest muscles in the human body for the job they have to do. They are 100 times more powerful than they need to be.

Mass Loss from a Supermassive Star Mass Loss from a Supermassive Star
Amount of Energy Released by Earthquakes of Different Magnitudes Amount of Energy Released by Earthquakes of Different Magnitudes
Activity, Food Restriction, and Weight Loss Activity, Food Restriction, and Weight Loss
Myths and Facts About Weight Loss Myths and Facts About Weight Loss
This mini clamp-on DMM is being used to measure the amount of battery electrical drain that is ... This mini clamp-on DMM is being used to measure the amount of battery electrical drain that is ...
Client’s view with visual field loss Client’s view with visual field loss
Video: Blood Test Basics

For a complete list of videos, visit our video library