If a monopolist is able to practice perfect price discrimination, there will be no deadweight loss.
Answer the following statement true (T) or false (F)
True
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The rule of rational choice is that in trying to make themselves better off, people alter their behavior if the expected marginal benefits to them from doing so ____ the expected marginal costs they will bear. a. exceed
b. equal. c. are less than. d. Either a. or b.
In Macroland, autonomous consumption equals 100, the marginal propensity to consume equals 0.75, net taxes are fixed at 40, planned investment is fixed at 50, government purchases are fixed at 150, and net exports are fixed at 20. Induced expenditure equals:
A. 320 + 0.25Y. B. 0.75Y. C. 290 + 0.75Y. D. 0.25Y.
The CPI tends to overstate the true inflation rate because
A. we cannot know what the true inflation rate is. B. the market basket actually selected is inappropriate. C. the market basket fails to weigh housing costs sufficiently. D. it fails to consider the effects of new products in the marketplace.
As the level of output increases, what happens to the value of average fixed cost, and what happens to the difference between the value of average total cost and average variable cost?
What will be an ideal response?