A nondiscriminating pure monopolist is generally viewed as:
A. both productively and allocatively inefficient.
B. productively efficient but allocatively inefficient.
C. productively inefficient, but allocatively efficient.
D. both productively and allocatively efficient.
Answer: A
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The difference between the investment demand curve and the investment schedule is that the former shows a(n)
A. direct relationship between investment and interest rate, while the latter shows no correlation between investment and income. B. inverse relationship between investment and income, while the latter shows no correlation between investment and interest rate. C. direct relationship between investment and income, while the latter shows no correlation between investment and interest rate. D. inverse relationship between investment and interest rate, while the latter shows no correlation between investment and income.
An industry with only two competing firms is called a ________
A) duopoly B) perfect competition C) monopoly D) monopolistic competition
From 1970 to 1984, the productivity of the Lockeed Company increased as the company produced more airplanes. According to the text, Lockeed's experience can best be described as:
A. increasing returns to scale. B. technological change. C. learning-by-doing. D. increasing marginal returns.
Refer to the graph shown. Which of the following wage rates would be an effective price floor?
A. $3.50 B. $4.50 C. $7.25 D. $6.50