1. the deadweight loss due to monopoly: a. exists because the monopoly restricts output. b. would still exist in a competitive market. c. is equal to monopoly profit. d. represents a benefit to society. 2. which of the following is not a true statement? a. in a competitive market, p = mc at the efficient output. b. in a monopoly market, p = mr at the monopoly output. c. in a monopoly market, p > mc at the monopoly output. d. if p = mc, there is no deadweight loss.

If you offer up your car as a demonstration that you will pay off your loan to a bank or another financial lending institution, you are using your car as collateral. true false

John is a 45-year-old manager who enjoys playing basketball in his spare time with his teenage sons and their friends. at work he finds that he is better able to solve problems that come up because of his many years of experience, but while on the court, he finds he is not as good keeping track of the ball while worrying about the other players. john's experience is:

Hours to produce one unit worker hours to produce yarn country a 8 hours country b 4 hours worker hours to produce fabric counrty a 12 hours country b 13 hours additional worker hours to produce fabric instead of yarn country a ? country b? which of the follow is true of the trade relationship between country a and country b? country a has an absolute advantage in producing yarn and fabric country b has an absolute advantage in producing yarn and fabric country b has a comparative advantage to country a in producing fabric country a has a comparative advantage to country b in producing fabric