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Author Question: The deadweight loss from a monopoly refers to a. the portion of a monopolist's profits that are ... (Read 49 times)

jwb375

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on: Jul 1, 2018
The deadweight loss from a monopoly refers to
 a. the portion of a monopolist's profits that are above the competitive profit level.
  b. the increase in price due to the monopolization of a market.
  c. the inefficient use of factors of production by a monopoly.
  d. the loss of consumer surplus due to the monopolization of a market that is not transferred to another economic actor.

Question 2

If a monopoly is maximizing profits,
 a. price will always be greater than the elasticity of demand.
  b. price will always equal marginal cost.
  c. price will always be greater than marginal cost.
  d. price will always equal marginal revenue.


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dpost18

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Reply #1 on: Jul 1, 2018
Answer to Question 1

d

Answer to Question 2

c


jwb375

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Reply 2 on: Jul 1, 2018
Thanks for the timely response, appreciate it

irishcancer18

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

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