Compared to a single-price monopoly, when a monopoly can perfectly price discriminate, the deadweight loss
A) increases.
B) decreases.
C) remains the same.
D) becomes infinite.
E) probably changes, but more information is needed to determine if it increases, decreases, or remains constant.
B
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How well did the Federal Reserve Banks perform during the Great Depression?
(A) The Chair of the Board of Governors made bad decisions and directed the Federal Reserve Banks to act in harmful ways. (B) The Federal Reserve System skillfully guided the United States economy out of the Great Depression. (C) Individual governors of the Federal Reserve Banks disagreed over policy and were unable to stop the depression. (D) The Great Depression took place before the Federal Reserve System was established.
Which of the following statements is true about the total utility provided by a good?
a. Total utility can never be negative. b. Total utility is maximized when marginal utility is maximized. c. Total utility continues to increase as more of the good is consumed. d. Total utility is maximized when marginal utility is zero (for total utility > 0). e. Total utility is maximized when marginal utility is zero (for total utility < 0).