[Answered] Perfectly competitive markets maximize the sum of producer and consumer surplus. a. True b. ...

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rmenurse

Hero Member
Posts: 513

on: Jun 30, 2018

Perfectly competitive markets maximize the sum of producer and consumer surplus.
a. True
b. False

Question 2

The welfare loss of monopoly is also called
a. converted consumer surplus
b. deadweight loss
c. economic profit under monopoly
d. producer surplus
e. contestable profit

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Marked as best answer by a Subject Expert

momo1250

Sr. Member
Posts: 338

Reply #1 on: Jun 30, 2018

Answer to Question 1

A

Answer to Question 2

B

rmenurse

Member
Posts: 513

Reply 2 on: Jun 30, 2018

Excellent

upturnedfurball

Member
Posts: 334

Reply 3 on: Yesterday

Great answer, keep it coming

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