Question

Question 9 1 pts In the long run, a monopoly will achieve: both productive and allocative efficiency. O productive, but not allocative efficiency neither allocative and productive efficiency. allocative, but not productive, efficiency. Question 10 1 pts Price discrimination is: O common in perfectly competitive markets charging different prices for the same good because it costs more to serve some customers than others, charging different groups of customers different prices for the same good even though there's no difference in the cost of providing the good to the different groups. O charging higher prices to some customers based on their gender or ethnicity, even though there is no difference in the cost of producing the good for different gender and ethnic groups.

Answer 1

Q9
Answer
Option 3
neither productive nor allocative efficiency
The firm produces at MC=MC where P>MC so it does not achieve allocative efficiency and MC is not equal to ATC so the firm also not achieve productive efficiency.
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Q10
Answer
Option 3
Price discrimination is charging different prices to each consumer, to each group based on their consumer surplus and not based on gender or ethic.