Which of the following statements is not correct?
a. Part of the deadweight loss associated with monopoly is measured by the monopolist's economic profit.
b. Marginal cost is always less than average total cost in a natural monopoly.
c. Discount coupons available free to the public are a type of price discrimination.
d. Anti-trust laws make it harder for firms to create synergies.
a
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Why do a significant number of economists object to the world's current financial system?
a. They believe it can lead to an unstoppable global financial crash. b. They believe it isn't fair to highly developed nations. c. They believe it leaves too much room for fraud and corruption. d. They believe it is biased toward support of the American economy.
For a normal good, the income and substitution effect work in the same direction. For an inferior good, the income and substitution effects work in opposite directions
Does this imply that the demand curve for an inferior good is upward sloping? Explain.