The long-run equilibrium price-output combination for a monopolist is economically inefficient because:
a. it does not operate on the minimum point of its marginal-cost curve.
b. it does not produce the level of output at which price equals marginal cost.
c. consumer surplus is maximized but not producer surplus.
d. producer surplus is maximized but not consumer surplus.
e. it operates on the downward sloping portion of the average-total-cost curve.
b
Economics
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A) minus inflation expectations B) plus all taxes C) plus inflation expectations D) minus all taxes
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Which of the following is not a leading variable?
A) Inflation B) Stock prices C) Average labor productivity D) Residential investment
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