Questions-1 productive efficiency occurs when consumers pay, Ask an Expert

Economics

Questions-

1. Productive efficiency occurs when consumers pay what it costs to produce the last unit.

A) True

B) False

2. Which list of characteristics describes a monopoly market?

A) many sellers, no close substitutes for the product, significant barriers to entry

B) one seller, many substitute products, significant barriers to entry

C) one seller, no close substitutes for the product, easy to enter the market

D) one seller, no close substitutes for the product, significant barriers to entry

Additional Information-

These multiple choice questions are relates to Economics. The first question is about productive efficiency and the second question is about the characteristics of monopoly market.

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