« previous next »

Author Question: A monopoly sets a market price that is higher than the marginal cost of production. This fact ... (Read 81 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?

Cyanide works by making the human body unable to use oxygen.

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?

Medication errors are more common among seriously ill patients than with those with minor conditions.

Did you know?

The term bacteria was devised in the 19th century by German biologist Ferdinand Cohn. He based it on the Greek word "bakterion" meaning a small rod or staff. Cohn is considered to be the father of modern bacteriology.

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.

All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co All of the homes in this new neighborhood of Brentwood, California, are for sale, evidence of the co
The fact that a mother works outside the home has no negative effect on the well-being of her child ... The fact that a mother works outside the home has no negative effect on the well-being of her child ...
World Aquaculture Production "لإنتاج العالمي لتربية الأحياء" World Aquaculture Production "لإنتاج العالمي لتربية الأحياء"
Higher-Order Conditioning Higher-Order Conditioning
Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ... Consider the production function ( ) 0.5 0.5 Y = AK L . Suppose both saving rate (s) and the ...
Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price. Cost = $99.49; Rate of markup based on cost = 32%. Find the markup and selling price.
Video: Darwin's Observation (Fossils, Galapagos Islands & Africa ) and Natural Selection (Adaptive Traits)

For a complete list of videos, visit our video library