The deadweight loss associated with a monopoly occurs because the monopolist
a. maximizes profits.
b. produces an output level less than the socially optimal level.
c. produces an output level greater than the socially optimal level.
d. equates marginal revenue with marginal cost.
b
Economics
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There are 6 firms in a market and the market shares of the firms are 40 percent, 30 percent, 10 percent, 8 percent, 7 percent, and 5 percent. The four-firm concentration ratio is equal to
A) 2738. B) 2664. C) 100. D) 88.
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In a(n) ________ market, dealers in different locations buy and sell securities to anyone who comes to them and is willing to accept their prices
A) exchange B) over-the-counter C) common D) barter
Economics