If the demand curve for a firm is downward-sloping, its marginal revenue curve
A) will lie below the demand curve. B) will lie above the demand curve.
C) is the same as the demand curve. D) is horizontal.
A
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"If the price of a ticket to Sea World exceeds the marginal cost of the ticket by $13, a producer surplus exists for Sea World." Is this statement true or false?
What will be an ideal response?
In the classical model with an open economy, an increase in government purchases always causes complete crowding out
a. True b. False
Unions have the power to
A. set all working rules. B. increase the firm’s total taxes. C. push wages above competitive levels at times. D. make a firm nationalized.
________ is a monopoly that exists in an industry where large economies of scale act as a barrier to entry.
A. A natural monopoly B. A monopolistic competitor C. A regulated monopoly D. A price discriminator