What is a synergy or cost complementarity?
a. the cost of producing different products offered by separate companies would be more expensive when produced by one company
b. the cost of producing different products offered by separate companies is higher than when produced by one company
c. the cost of producing different products offered by separate companies is equal to when the products are produced by one company
d. None of the above
b
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At the profit-maximizing level of output for a pure monopoly ________.
A. price is less than marginal cost B. total revenue is greater than total cost C. price is equal to marginal cost D. price is greater than marginal cost
In the figure above, suppose the economy is initially at point B. Then the interest rate in Japan rises relative to the interest rate in the United States. This change ________ the supply of dollars and the market moves to a point such as ________
A) decreases; A B) decreases; E C) increases; D D) increases; C
As the price of a good increases, the marginal utility per dollar spent on that good will also increase
a. True b. False Indicate whether the statement is true or false
Implicit costs are:
A. Equal to total fixed costs B. Comprised entirely of variable costs C. "payments" for self-employed resources D. Always greater in the short run than in the long run