homework micro.docx - Word (Error de activación de productos)ARCHIVOINICIOINSERTARDISEÑODISEÑO DE PÁGINADiana Arenas -REFERENCIASCORRESPONDENCIAREVISARVISTAX CortarA Buscar -Calibri (Cuerpo)11- AAAar AAаBЬСcDd AaBЬСcDd AaBbС AаBbСcС Аав АавЬСсDabCopiarSac ReemplazarPegarx²A - aby ,AI Normal1 Sin espa..Título 1Título 2PuestoSubtítuloN KabeX,Copiar formatoSeleccionar -PortapapelesFuentePárrafoEstilosEdición8. As the demand for a product falls, it is not uncommon for the industry to become a monopoly. This ismost likely due toA. An increase in the number of barrierB The surviving firm operating on the declining part of its average cost curveC Patent protection causing high pricesD Legal restrictions being imposed9. Until recently, the drug maker Pfizer enjoyed a monopoly of the cholesterol-control drug Lipitorbecause of patents rights. True or false10. In order for the price system to have satisfied the exacting requirements for efficiency,A. MU must equal MC for each and every commodity.B. every consumer's MU will be equal to marginal physical product.C. The average cost of producing each good must be to its MU. D. The maximum possible of the totaleconomic profit must be produced.PÁGINA 1 DE 2INGLÉS (ESTADOS UNIDOS)+366 PALABRAS113%10:25 AMO Type here to search11/17/2020(9 homework micro.docx - Word (Error de activación de productos)ARCHIVOINICIOINSERTARDISEÑODISEÑO DE PÁGINACORRESPONDENCIADiana Arenas -REFERENCIASREVISARVISTAX CortarA Buscar --|11 - ACalibri (Cuerpo)AAa- AAaBbCcDd AaBbCcDd AaBbC AaBbCcC AABI AaBbCcDabCopiarSac Reemplazar1 Normal1 Sin espa.Título 1Título 2PuestoSubtítuloPegarN KabeX,x²A - aby -ACopiar formatoSeleccionar -PortapapelesFuentePárrafoEstilosEdición1. Inefficient allocation of resources occurs whenA. society is operating at a point low on the production possibilities frontierB. society is operating at a point high on the production possibilities frontierC. no one can be made better off without having someone else give up somethingD. it is possible to make some people better off without making others worse off.2. The marginal revenue curve for a monopolist is always below the demand curve. True or false3. Under a systems of laissez-faire, output selection is determined by consumers' wants. True or false4. Any increase in efficiency increases output available for distribution. True or false5. Under the theory of perfect competition, firms and buyers know the availability and prices associatewith all products in the market. True or false6. Politician and citizens may often choose policies that reduce economic efficiency because they areperceived as “fairer". True or false7. Society might argue that there are cases in which it is appropriate to resist price increases insituations where scarcity is serious. Included would be the case ofA. All of the responses are correctB. Taxes imposed on products capriciously and inappropriateC Rising pricing falling so heavily on the poor that rationing becomes preferableD. Unrestrained monopoly that would otherwise succeed in extracting funds from the public.PÁGINA 1 DE 2INGLÉS (ESTADOS UNIDOS)+366 PALABRAS113%10:21 AMO Type here to search11/17/2020(8

Question

homework micro.docx - Word (Error de activación de productos)ARCHIVOINICIOINSERTARDISEÑODISEÑO DE PÁGINADiana Arenas -REFERENCIASCORRESPONDENCIAREVISARVISTAX CortarA Buscar -Calibri (Cuerpo)11- AAAar AAаBЬСcDd AaBЬСcDd AaBbС AаBbСcС Аав АавЬСсDabCopiarSac ReemplazarPegarx²A - aby ,AI Normal1 Sin espa..Título 1Título 2PuestoSubtítuloN KabeX,Copiar formatoSeleccionar -PortapapelesFuentePárrafoEstilosEdición8. As the demand for a product falls, it is not uncommon for the industry to become a monopoly. This ismost likely due toA. An increase in the number of barrierB The surviving firm operating on the declining part of its average cost curveC Patent protection causing high pricesD Legal restrictions being imposed9. Until recently, the drug maker Pfizer enjoyed a monopoly of the cholesterol-control drug Lipitorbecause of patents rights. True or false10. In order for the price system to have satisfied the exacting requirements for efficiency,A. MU must equal MC for each and every commodity.B. every consumer's MU will be equal to marginal physical product.C. The average cost of producing each good must be to its MU. D. The maximum possible of the totaleconomic profit must be produced.PÁGINA 1 DE 2INGLÉS (ESTADOS UNIDOS)+366 PALABRAS113%10:25 AMO Type here to search11/17/2020(9 homework micro.docx - Word (Error de activación de productos)ARCHIVOINICIOINSERTARDISEÑODISEÑO DE PÁGINACORRESPONDENCIADiana Arenas -REFERENCIASREVISARVISTAX CortarA Buscar --|11 - ACalibri (Cuerpo)AAa- AAaBbCcDd AaBbCcDd AaBbC AaBbCcC AABI AaBbCcDabCopiarSac Reemplazar1 Normal1 Sin espa.Título 1Título 2PuestoSubtítuloPegarN KabeX,x²A - aby -ACopiar formatoSeleccionar -PortapapelesFuentePárrafoEstilosEdición1. Inefficient allocation of resources occurs whenA. society is operating at a point low on the production possibilities frontierB. society is operating at a point high on the production possibilities frontierC. no one can be made better off without having someone else give up somethingD. it is possible to make some people better off without making others worse off.2. The marginal revenue curve for a monopolist is always below the demand curve. True or false3. Under a systems of laissez-faire, output selection is determined by consumers' wants. True or false4. Any increase in efficiency increases output available for distribution. True or false5. Under the theory of perfect competition, firms and buyers know the availability and prices associatewith all products in the market. True or false6. Politician and citizens may often choose policies that reduce economic efficiency because they areperceived as “fairer&#34;. True or false7. Society might argue that there are cases in which it is appropriate to resist price increases insituations where scarcity is serious. Included would be the case ofA. All of the responses are correctB. Taxes imposed on products capriciously and inappropriateC Rising pricing falling so heavily on the poor that rationing becomes preferableD. Unrestrained monopoly that would otherwise succeed in extracting funds from the public.PÁGINA 1 DE 2INGLÉS (ESTADOS UNIDOS)+366 PALABRAS113%10:21 AMO Type here to search11/17/2020(8

Accepted Answer

A production possibilities frontier is the locus of all maximum combinations of two goods an economy…