n general equilibrium, when one of the firms producing goods is a monopolist, it charges price that is too high and sells quantity that is too low, therefore (there are more than one answer could be chosen) Group of answer choices a. the recourses (inputs) in this economy are not used efficiently b. the combination of goods produced is below PPF c. the consumers are not maximising their utilities given prices d. the goods produced in the economy are not distributed efficiently among the consumers e. none of the above
n general equilibrium, when one of the firms producing goods is a monopolist, it charges price that is too high and sells quantity that is too low, therefore (there are more than one answer could be chosen) Group of answer choices a. the recourses (inputs) in this economy are not used efficiently b. the combination of goods produced is below PPF c. the consumers are not maximising their utilities given prices d. the goods produced in the economy are not distributed efficiently among the consumers e. none of the above
Economics: Private and Public Choice (MindTap Course List)
16th Edition
ISBN:9781305506725
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter24: Price-searcher Markets With High Entry Barriers
Section: Chapter Questions
Problem 9CQ
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In general equilibrium, when one of the firms producing goods is a monopolist, it charges price that is too high and sells quantity that is too low, therefore
(there are more than one answer could be chosen)
Group of answer choices
a. the recourses (inputs) in this economy are not used efficiently
b. the combination of goods produced is below PPF
c. the consumers are not maximising their utilities given prices
d. the goods produced in the economy are not distributed efficiently among the consumers
e. none of the above
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