In long-run equilibrium for a single-price monopolist,
A. marginal revenue equals price.
B. output is at the level where short-run and long-run marginal costs are the same.
C. the plant size is always the one at the bottom of the long-run ATC curve.
D. marginal cost equals ATC.
Answer: B
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Refer to Figure 17-1. Suppose that the economy is currently at point A. If the Federal Reserve engaged in expansionary monetary policy, where would the economy end up in the short run?
A) It would remain at point A. B) point B C) point C D) point D E) point E
When quantity supplied equals quantity demanded,
A. there is disequilibrium. B. the market is cleared. C. there is excess quantity demanded. D. there is excess quantity supplied.
A bank will charge a higher interest rate the:
A. longer is the length of the loan, and the lower the risk of repayment. B. shorter is the length of the loan, and the lower the risk of repayment. C. shorter is the length of the loan, and the higher the risk of repayment. D. longer is the length of the loan, and the higher the risk of repayment.
Recessions...
What will be an ideal response?