If an unregulated monopolist operates in a market, then: a. ...

[APUS57]

If an unregulated monopolist operates in a market, then:
 a. customers will pay higher prices than if the market were competitive.
 b. customers will purchase fewer units of output than if the market were competitive.
  c. society will not be allocating its resources efficiently.
 d. all of the above will occur.

Question 2

If average costs of production decline with increases in output for a particular large firm in an industry:
 a. many small firms will be more efficient than the single large firm in the industry.
  b. the single large firm will be more efficient than many small firms in the industry.
  c. product diversification will be necessary for the firm to spread its overhead.
  d. diseconomies of scale become significant as its output increases.
  e. its variable cost of production will exceed its fixed costs.

[matt]

Answer to Question 1

d

Answer to Question 2

b

[APUS57]

Thank you

[matt]

Happy to help you