1. Lobbying and the extension of patents are both examples of x-inefficiency.
2. The marginal cost curve and average variable cost curve intersect where the average variable cost curve is at its minimum point.
These multiple choice questions belong to Economics. The 1st question is about lobbying and extension of patents are examples of inefficiency and the 2nd question is about marginal cost curve and average variable cost curve intersecting.
Total Word Count NA
If you are here for the first time, you can request for a discount coupon, which can knock off upto 20% of the quoted price on any service.