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 39 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?

There can actually be a 25-hour time difference between certain locations in the world. The International Date Line passes between the islands of Samoa and American Samoa. It is not a straight line, but "zig-zags" around various island chains. Therefore, Samoa and nearby islands have one date, while American Samoa and nearby islands are one day behind. Daylight saving time is used in some islands, but not in others—further shifting the hours out of sync with natural time.

Did you know?

Children with strabismus (crossed eyes) can be treated. They are not able to outgrow this condition on their own, but with help, it can be more easily corrected at a younger age. It is important for infants to have eye examinations as early as possible in their development and then another at age 2 years.

Did you know?

Many medications that are used to treat infertility are injected subcutaneously. This is easy to do using the anterior abdomen as the site of injection but avoiding the area directly around the belly button.

Did you know?

Women are two-thirds more likely than men to develop irritable bowel syndrome. This may be attributable to hormonal changes related to their menstrual cycles.

Did you know?

The strongest synthetic topical retinoid drug available, tazarotene, is used to treat sun-damaged skin, acne, and psoriasis.

Because of the high physical activity and the amount of energy expended by the brains of 2- to ... Because of the high physical activity and the amount of energy expended by the brains of 2- to ...
The relationship of substrate con- version (as measured by optical density) to the amount of patient ... The relationship of substrate con- version (as measured by optical density) to the amount of patient ...
The Nutrient Fact Panel on the food label can help consumers make smart nutrition choices The Nutrient Fact Panel on the food label can help consumers make smart nutrition choices
Loud Music and Hearing Loss Loud Music and Hearing Loss
Loss of brain cells in a transgenic Huntington-disease mouse. (a) Section of normal mouse-brain stri Loss of brain cells in a transgenic Huntington-disease mouse. (a) Section of normal mouse-brain stri
Creating a loss-of-function CFTR Creating a loss-of-function CFTR
Video: Stroke volume - contractility definition

For a complete list of videos, visit our video library