6. When monopolies waste resources attempting to prevent other
firms from competing with them, it is referred to as:
A.
rent seeking.
B.
price fixing.
C.
cream skimming.
D.
price discriminating.
7. Price discrimination by a monopolist leads to the firm
earning higher profits but it also delivers benefits to:
A.
competitors, because the good produced by the monopolist
becomes more expensive.
B.
consumers, because consumer surplus increases because of the
monopolist’s pricing actions.
C.
consumers, because prices are lowered...