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Author Question: The social cost associated with the distortion in consumption from a monopoly price is called (Read 78 times)

Pea0909berry

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Question 1

Refer to the information provided in Figure 13.10 below to answer the question(s) that follow. 












Refer to Figure 13.10. If the government imposed a ________ on this firm, the firm would sell to 2,500 subscribers but would require a subsidy of $1,250 to stay in business.


◦ price floor of $12
◦ price floor of $12.50
◦ price ceiling of $12
◦ price ceiling of $12.50

Question 2

The social cost associated with the distortion in consumption from a monopoly price is called


◦ producer surplus.
◦ rent-seeking behavior.
◦ the excess burden of a monopoly.
◦ a network externality.


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Marked as best answer by Pea0909berry on Apr 19, 2019

wilsonbho

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Pea0909berry

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Reply 2 on: Apr 19, 2019
Gracias!


xiazhe

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Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

 

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