Monopolist marginal revenue rises with output.
Answer the following statement true (T) or false (F)
False
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Does the fact that monopolistically competitive firms do not achieve productive efficiency or allocative efficiency mean that there is a significant loss in consumer welfare?
What will be an ideal response?
If the marginal propensity to save (MPS) = 0.1, then
A) the MPC = 0.9. B) the APS = 0.1. C) the APC = 0.9. D) consumption equals $1,800 when income equals $2,000.
Which of the following is an example of a negative incentive instituted by the government?
a. a tax deduction for charitable giving b. a “soda tax” on sugary beverages c. a tax rebate for buying energy-efficient appliances d. a tax credit for college tuition
In the short run, which of the following is FALSE about the shutdown point?
A. Product price is equal to the minimum average variable cost. B. Total revenue is equal to total fixed cost. C. Total revenue is equal to total variable cost. D. Price multiplied by quantity must be equal to minimum average variable cost multiplied by quantity.