Refer to Table 2.3. Assume that 2010 is the base year. The GDP deflator for 2010 is

In which market structure is it not possible to practice price discrimination?

A) oligopoly B) monopolistic competition C) monopoly D) perfect competition

When a firm is experiencing economies of scale, it will:

a. underuse a larger plant size than is indicated by short-run efficiency concerns. b. underuse a smaller plant than is indicated by short-run efficiency concerns. c. overuse a larger plant size than is indicated by short-run efficiency concerns. d. overuse a smaller plant size than is indicated by short-run efficiency concerns. e. produce at the minimum short-run and long-run average costs.