Monopoly pricing prevents some mutually beneficial trades from taking place. These unrealized, mutually beneficial trades are
a. not a concern if a market is perfectly competitive.
b. a deadweight loss to society.
c. a function of the reduction in the quantity produced by a monopolist in comparison to a competitive market.
d. All of the above are correct.
d
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A nation that is a net borrower each year over time will become a ________ nation. A nation that is a net lender each year over time will become a ________ nation
Since the early 1980s, the United States has been a ________ due to the current account ________. A) creditor; debtor; net lender; surpluses B) creditor; debtor; net borrower; deficits C) debtor; creditor; net borrower; deficits D) creditor; debtor; net lender; deficits E) debtor; creditor; net lender; surpluses
When the interest rate is higher, the difference between the value of money today and tomorrow is smaller
a. True b. False Indicate whether the statement is true or false
The assumption of a fixed number of firms is appropriate for analysis of
a. the short run but not the long run. b. the long run but not the short run. c. both the short run and the long run. d. neither the short run nor the long run.
If the income-expenditure multiplier equals 2.5 and a 1 percent increase in the real interest rate reduces autonomous spending by 200 units, then a 1,000 unit expansionary gap can be eliminated by ________ the real interest rate by ________ percent.
A. increasing; 4.0 B. decreasing; 2.0 C. increasing; 2.5 D. increasing; 2.0