« previous next »

Author Question: A monopoly sets a market price that is higher than the marginal cost of production. This fact ... (Read 27 times)

karlynnae

  • Hero Member
  • *****
  • Posts: 599
on: Jun 30, 2018
A monopoly sets a market price that is higher than the marginal cost of production. This fact implies that a monopoly's allocation of resources is:
 a. unfair.
  b. inefficient.
  c. discriminatory.
  d. excessive.

Question 2

The utility of a good measures its usefulness.
 a. True
  b. False
  Indicate whether the statement is true or false


lkanara2

  • Sr. Member
  • ****
  • Posts: 329
Reply #1 on: Jun 30, 2018
Answer to Question 1

b

Answer to Question 2

False


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
« previous next »
 

Did you know?

On average, someone in the United States has a stroke about every 40 seconds. This is about 795,000 people per year.

Did you know?

Side effects from substance abuse include nausea, dehydration, reduced productivitiy, and dependence. Though these effects usually worsen over time, the constant need for the substance often overcomes rational thinking.

Did you know?

In 2006, a generic antinausea drug named ondansetron was approved. It is used to stop nausea and vomiting associated with surgery, chemotherapy, and radiation therapy.

Did you know?

Though newer “smart” infusion pumps are increasingly becoming more sophisticated, they cannot prevent all programming and administration errors. Health care professionals that use smart infusion pumps must still practice the rights of medication administration and have other professionals double-check all high-risk infusions.

Did you know?

There used to be a metric calendar, as well as metric clocks. The metric calendar, or "French Republican Calendar" divided the year into 12 months, but each month was divided into three 10-day weeks. Each day had 10 decimal hours. Each hour had 100 decimal minutes. Due to lack of popularity, the metric clocks and calendars were ended in 1795, three years after they had been first marketed.

Experimental evidence of the effect of allelochemicals on plant production. Experimental evidence of the effect of allelochemicals on plant production.
The tarsier is a haplorhine, and may represent an evolutionary bridge between lower and higher prima The tarsier is a haplorhine, and may represent an evolutionary bridge between lower and higher prima
Community colleges have opened higher education to millions of students who would not otherwise have ... Community colleges have opened higher education to millions of students who would not otherwise have ...
(a) IgA. (b) IgA production. (a) IgA. (b) IgA production.
Real Price of Oil, 1861–2010 Real Price of Oil, 1861–2010
Cost Accounting 14 Cost Accounting 14
Video: Supine Position

For a complete list of videos, visit our video library