Since a monopoly can set any price it wants, it always makes a profit?

Indicate whether the statement is true or false


False. The profit-maximizing price can result in a loss.

Economics

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You are likely to learn about ________ in your macroeconomics class

A) the price elasticity of demand for a good B) the average revenue and cost curves of a firm C) the Law of Diminishing Marginal Utility D) the annual growth rate of an economy's output

Economics

Of the following demographic groups in the United States, which is least likely to be poor?

a. female headed households with no husband present b. African-American households c. full-time workers d. part-time workers

Economics

The minimum efficient scale is the output at which the long-run average cost curve becomes horizontal.

Answer the following statement true (T) or false (F)

Economics

If ________ bargaining to resolve an externality is to result in an efficient outcome, the initial assignment of rights must be clear to ________ parties.

A. private; both B. public; at least one C. private; at least one D. public; only government-sponsored

Economics