The Figure Given Below Shows the Demand Curves of Two

question 98

Multiple Choice

The figure given below shows the demand curves of two classes of buyers, for tickets to a football match.Figure 11.4
D₁: Demand curve of group 1
D₂: Demand curve of group 2
MR₁: Marginal revenue of group 1
MR₂: Marginal revenue of group 2
MC: Marginal cost
-The long-run equilibrium price-output combination for a monopolist is economically inefficient because:

• A)it does not operate on the minimum point of its marginal-cost curve.
• B)it does not produce the level of output at which price equals marginal cost.
• C)consumer surplus is maximized but not producer surplus.
• D)producer surplus is maximized but not consumer surplus.
• E)it operates on the downward sloping portion of the average-total-cost curve.

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Definitions:

2-Methylbutanal

A type of aldehyde with a five-carbon chain where the second carbon atom from the end is substituted with a methyl group.

1-Hexyne

An alkyne hydrocarbon with the chemical formula C6H10, characterized by a triple bond between the first and second carbon atoms.

2-Hexanone

An organic compound, a ketone, with the formula C6H12O, known for its use as a solvent in various industrial applications.

Intense Peak

A significant and prominent peak in a spectrum or chromatogram, indicating a high concentration or abundance of a specific analyte.