Suppose a profit-maximizing monopolist faces a constant marginal cost of $10, produces an output level of 100 units, and charges
a price of $50. The socially efficient level of output is 200 units. Assume that the demand curve and marginal revenue curve are the typical downward-sloping straight lines. The monopoly deadweight loss equals $4,000. a. True b. False
B. False Institutional advertising does not attempt to sell anything directly. It is type of advertising intended to promote company, business, institution or other similar entity.
