The Herfindahl-Hirschman Index for a monopoly is

Perfect competition ________ an efficient outcome because ________

A) achieves; total surplus is maximized B) achieves; marginal benefit equals marginal cost C) does not achieve; firms do not get to choose their price D) does not achieve; firms produce goods with perfect substitutes E) Both A and B are correct.

Which of the following sets of preferences can not satisfy the property of transitivity?

a. Plan A is preferred to plan D. Plan D is preferred to plan B. Plan C is preferred to plan B. b. Plan A is preferred to plan B. Plan B is preferred to plan C. Plan A is preferred to plan C. c. Plan C is preferred to plan A. Plan B is preferred to plan A. Plan C is preferred to plan B. d. Plan D is preferred to plan C. Plan C is preferred to plan B. Plan B is preferred to plan D.