padjchiangmicrode/81135808aunchpadjitem/PX MULTIPART LESSo Done Midterm 32. Whic
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Question
padjchiangmicrode/81135808aunchpadjitem/PX MULTIPART LESSo Done Midterm 32. Which statement about the price that a monopolist charges is TRUE? O The price is the same as the price that would be charged if there were perfect competition. O Too much of a good is being O The difference between the price charged by a monopolist and that by a perfect competitor is due to differe O The value that society places on the last unit produced in a monopoly is greater than its cost produced in a competitive market and not enough is being produced in a mora 33. When markets are efficient: O consumer surplus is minimized, but producer surplus is maximized ?the sum of consumer and producer surplus is maximized. O consumer surplus is maximized, but producer surplus is minimized. O the sum of consumer and producer surplus is minimized 34. Which sequence of market structures ranks the barriers to entry from the fewest to the most? O perfect competition; oligopoly; monopoly O monopolistic competition; monopoly; oligopoly O oligopoly; monopolistic competition; monopoly O oligopoly; perfect competition; monopoly 5. A unitary elastic demand means that if the percentage change in price is then the percentage change in qua ?2%; 4% 5%: 5% 2%, 1% O aining: 1:43:00 Start: 11:36 AM O Type here to search 5 6 8Explanation / Answer
32. The correct answer is C.
33. The correct answer is B.
34. The correct answer is A.
35.The correct answer is B.
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