The deadweight loss from monopoly exists because:
A. resource owners hired by the monopolist gain at the expense of consumers.
B. the marginal benefit of the monopolist's product to society exceeds the monopolist's marginal cost.
C. the monopolist produces at an output level at which no one can be made better off without making someone worse off.
D. there are no net gains to society at the output level produced by a monopolist.
Answer: B
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What will be an ideal response?
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Indicate whether the statement is true or false
In the neoclassical growth model without technological progress, in the steady-state the level of capital increases at
a. the growth of technology plus the growth of population. b. the growth of technology plus the growth of population plus depreciation. c. the growth of technology. d. the growth of population.
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