Although monopoly has lower output than competition, the level of output is efficient

Refer to Scenario 14.1. Marco's dominant strategy will give him a net benefit of

A) $45. B) $75. C) $120. D) $150.

The budget line is downward sloping, reflecting the fact that you must give up some of one good to get more of the other

a. True b. False Indicate whether the statement is true or false