The Deadweight Loss from Monopoly Is the Result of

question 32

Multiple Choice

The deadweight loss from monopoly is the result of

• A)marginal cost being upward-sloping.
• B)irrational action on the part of consumers.
• C)the higher price charged and higher quantity produced compared to competition.
• D)the fact that price and marginal revenue are not the same.
• E)profit maximization as a motivating factor.

---

Definitions:

Median

The middle value in a data set when the values are arranged in ascending or descending order.

Discretionary Expense

Non-essential spending or expenses that an individual chooses to make, which can be cut without impacting their ability to cover basic living costs.

Measures Of Central Tendency

Single numbers, such as the mean, median, and mode, designed to represent a “typical” value for the data.

Outliers

Outliers are data points in a dataset that deviate significantly from the rest of the distribution, potentially indicating an error or a unique underlying process.