A situation in which the price charged is greater than society's opportunity cost would lead to
A) market failure.
B) marginal monopoly pricing.
C) marginal profits.
D) marginal cost pricing.
A
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In the short run, when production goes up what typically happens to total variable costs?
What will be an ideal response?
From the 1960s to the early 1990s, marginal tax rates _____
a. varied, but not in a consistent direction b. steadily declined c. steadily increased d. remained relatively constant
In the short run, a monopoly should shut down whenever
a. marginal revenue exceeds marginal cost b. price is less than average total cost c. total revenue is less than total cost d. price exceeds the ratio of marginal cost to average cost at the optimal output e. price is less than average variable cost everywhere
One advantage of a proprietorship is that
A) it is relatively easy to raise financial capital for a proprietorship. B) a proprietorship is relatively easy to form and to dissolve. C) there are limits to the possible liabilities of the owner. D) depreciation rates on capital are higher.