If the factor supply curve facing a monopolist is the market supply curve, and if the market supply curve is an upward sloping straight line, the marginal expenditure curve
A) lies below the market supply curve.
B) lies above the market supply curve.
C) is the market supply curve.
D) crosses the market supply curve at the market wage rate.
E) either A or B is possible.
B
You might also like to view...
The long-run supply curve of an industry equals the industry’s
A. long-run marginal cost curve. B. the horizontal sum of all firms’ supply curves at any point in time. C. long-run average cost curve. D. long-run total variable cost curve.
The increase in the capital stock equals the amount of
A) gross investment. B) depreciation. C) net investment. D) private sector spending.
Membership in the Federal Reserve System is
a. limited to national banks. b. limited to state banks. c. required of national banks and open to state banks. d. forbidden to state banks.
If the marginal propensity to consume is 0.7, the expenditure multiplier is
a. 7.0 b. 0.7 c. 3.0 d. 3.3 e. not determinable without additional information.