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Author Question: Relative to a perfectly competitive market for an exhaustible resource, the monopolist charges a ... (Read 127 times)

shofmannx20

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on: Jul 1, 2018
Relative to a perfectly competitive market for an exhaustible resource, the monopolist charges a ________ price and uses the resource more ________.
 
  A) lower, slowly
  B) lower, quickly
  C) higher, slowly
  D) higher, quickly

Question 2

Refer to Scenario 10.9. At the profit maximizing level of output, what is the deadweight loss?
 
  A) 0
  B) 450
  C) 900
  D) 1,800
  E) none of the above


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Natalie4ever

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

C

Answer to Question 2

C


shofmannx20

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

nyrave

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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