What is not a benefit from the lower costs of transportation that were achieved through advances in railroads, canals and steamboats?
a. Free rider problems were reduced.
b. Farmers gained larger shares of the selling price of their crops.
c. Consumers paid decreasing shares of the purchase price for transportation and marketing costs

d. New unsettled areas were profitably cleared and added to the nation's economic activity.

a. Free rider problems were reduced.

Economics

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Refer to Scenario 10.8. The deadweight loss from monopoly is ________

A) 0 B) 5 C) 10 D) 25 E) none of the above

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In perfect competition, entry and exit are difficult, but goods are homogeneous

Indicate whether the statement is true or false

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