The deadweight loss due to monopoly:. 1. would still exist in a competitive market.
2. represents a benefit to society.
3. is equal to monopoly profit.
4. exists because the monopoly restricts output.
Which of the following is not a true statement?
1. In a monopoly market, P = MR at the monopoly output.
2. If P = MC, there is no deadweight loss.
3. In a competitive market, P = MC at the efficient output.
4. In a monopoly market, P > MC at the monopoly output.

Transactions on april 1 of the current year, andrea byrd established a business to manage rental property. she completed the following transactions during april: opened a business bank account with a deposit of $45,000 from personal funds. purchased office supplies on account, $2,000. received cash from fees earned for managing rental property, $8,500. paid rent on office and equipment for the month, $5,000. paid creditors on account, $1,375. billed customers for fees earned for managing rental property, $11,250. paid automobile expenses for month, $840, and miscellaneous expenses, $900. paid office salaries, $3,600. determined that the cost of supplies on hand was $550; therefore, the cost of supplies used was $1,450. withdrew cash for personal use, $2,000. required: 1. indicate the effect of each transaction and the balances after each transaction: for those boxes in which no entry is required, leave the box blank. for those boxes in which you must enter subtractive or negative numbers use a minus sign. (example: -300)

Depasquale corporation is working on its direct labor budget for the next two months. each unit of output requires 0.61 direct labor-hours. the direct labor rate is $8.70 per direct labor-hour. the production budget calls for producing 6,700 units in may and 7,100 units in june. if the direct labor work force is fully adjusted to the total direct labor-hours needed each month, what would be the total combined direct labor cost for the two months?

Which of the following commission structures creates sales people who are highly motivated to close a sales, because their entire income depends on it?