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Author Question: If a market is productively efficient, a. the output is being produced at the lowest possible ... (Read 37 times)

armygirl

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on: Jun 30, 2018
If a market is productively efficient,
 a. the output is being produced at the lowest possible resource cost
  b. the output is selling for the lowest possible price
  c. economic profit in the market is positive
  d. the output being produced is what consumers want
  e. no firm can earn a normal profit

Question 2

When a monopolist practices perfect price discrimination,
 a. consumers receive no consumer surplus
  b. there is allocative inefficiency
  c. there is a deadweight loss
  d. profit is lower than for the nondiscriminating monopolist
  e. total revenue is less than for the nondiscriminating monopolist


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tdewitt

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Reply #1 on: Jun 30, 2018
Answer to Question 1

A

Answer to Question 2

A


armygirl

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Reply 2 on: Jun 30, 2018
Excellent

covalentbond

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Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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