If $1,000 is placed in an account earning 8% annually, the balance at the end of seven years will be

In evaluating the degree of economic efficiency in a market, we can state that the size of the deadweight loss in a market will be smaller

A) the greater the difference between marginal cost and average revenue. B) the smaller the difference between marginal cost and price. C) the greater the difference between marginal cost and price. D) the smaller the difference between marginal cost and average total cost.

Which of the following best explains why economists are generally critical of unregulated monopolists?

a. Monopolists do not try to minimize their costs of production. b. Monopolists produce where marginal revenue is greater than marginal costs. c. Monopolists attempt to produce too many products, and as a result, their prices are high, and consumers waste time trying to choose between too many options. d. Monopolists restrict output, and as a result, they fail to produce units that are valued more than the marginal cost of producing them.