The deadweight loss associated with a monopoly occurs because the monopolist: a. maximizes profits.
b. equates marginal revenue with marginal cost.
c. produces an output level less than the socially optimal level.
d. produces an output level greater than the socially optimal level.

To appeal to a new target market, the maker of hill's coffee has changed the product's package design, reformulated the coffee, begun advertising price discounts in women's magazines, and started distributing the product through gourmet coffee shops. what has been changed? a. the product's perceptual value. b.the product's 4ps. c. the method used in its target marketing. d. the ownership of the product line. e. the product's utility.