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Make Sure To Question True/False/Uncertain

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True/False/Uncertain. Evaluate whether the following statements are true, false or uncertain. Make sure to

Question

True/False/Uncertain. Evaluate whether the following statements are true, false or uncertain. Make sure to

explain your reasoning

a. The equilibrium outcome in a monopolized market is efficient because the monopolist always produces where marginal cost equals marginal revenue

b. In the presence of a binding price ceiling, a good will always be efficiently allocated among consumers.

c. The opportunity cost of a free ice cream cone from Ben Jerry’s is zero.

d. A rise in the price of olive oil will cause the demand curve for olive oil to shift inward

Economics