Question: could i please have help with these two Compared with perfect competition, a monopoly: a.increases total economic surplus. b.increases consumer surplus. c.causes a deadweight welfare
could i please have help with these two
Compared with perfect competition, a monopoly:
a.increases total economic surplus.
b.increases consumer surplus.
c.causes a deadweight welfare loss.
d.reduces deadweight welfare loss.
If buyers of a monopolistically competitive product feel the products of different sellers are strongly differentiated, then the demand for each seller's product is:
a.relatively price-elastic.
b.perfectly price-inelastic.
c.perfectly price-elastic.
d.relatively price-inelastic.
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