If a monopolist's marginal cost equals its marginal revenue
A. output should be raised.
B. output should be reduced.
C. production is at its most efficient level.
D. profits are maximized or losses are minimized.
D. profits are maximized or losses are minimized.
You might also like to view...
The long-run average cost curve
A. is a composite of short-run AC curves. B. shows the lowest possible short-run AC corresponding to each output level. C. depends on the firm’s planning horizon. D. All of the responses are correct.
President Franklin Delano Roosevelt declared a bank holiday, closing all U.S. banks in ________
A) July 1776 B) October 1929 C) March 1933 D) September 2001
Price elasticity of demand is defined as
a. the percentage change in price divided by the percentage change in quantity demanded b. the percentage change in quantity demanded divided by the percentage change in price c. the change in quantity demanded divided by the change in price d. the change in price divided by the change in quantity demanded e. the quantity demanded divided by the price
If taxes rise $100 billion, disposable income will fall by $100 billion and consumption spending will also fall by $100 billion
a. True b. False