Question 1) question 2) Question 3) Business-class airline tickets cost much mor

Question

Question 1)

question 2)

Question 3)

Business-class airline tickets cost much more than
coach-class tickets because, compared to
householders, businesspeople's demand for travel is
a. unitary elastic
b. less elastic
c. not a factor in the cost of airline tickets
d. more elastic
e. equally elastic

Exhibit 9-16 depicts the cost and demand conditions facing a profit-maximizing monopolist that does not price discriminate. Which of the following statement is true? An output of 75 is allocatively efficient, but the monopolist will produce 100 units. An output of 50 is allocatively efficient, but the monopolist will produce 75 units. An output of 100 is allocatively efficient, but the monopolist will produce 50 units. An output of 100 is allocatively efficient, but the monopolist will produce 75 units. An output of 50 is allocatively efficient, but the monopolist will produce 100 units. Exhibit 9-16 depicts the cost and demand conditions facing a profit-maximizing monopolist that does not price discriminate. What is the deadweight loss in this situation?

Explanation / Answer

ans)

1)B

2) A

3) A

4) C

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