A monopolist that price discriminates
a. produces too much output to be efficient
b. produces too little output to be efficient
c. produces the efficient level of output
d. charges a price equal to its marginal cost
e. faces an upward sloping demand curve
C
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Which price index published by the US federal government represents retail price changes?
A) Consumer Price Index B) Producer Price Index C) GDP deflator D) Dow-Jones Industrial Average
All of the following are shortcomings of GDP as a measure to human well-being except it:
a. Excludes quality improvements that do not increase price or quantity sold. b. Excludes international transactions. c. Excludes black market and underground transactions. d. Counts harmful and dangerous output the same as useful output. e. Excludes non-market transactions.