Author Question: A monopoly sets a market price that is higher than the marginal cost of production. This fact ... (Read 74 times)

karlynnae

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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

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Answer to Question 1

b

Answer to Question 2

False



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