If a firm that uses a production process that yields economies of scale charges a price equal to ________, then profit will be ________
A) marginal cost; negative
B) marginal revenue; maximized
C) marginal cost; maximized
D) marginal revenue; positive
E) marginal cost; positive
A
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The decline of the greenback against gold made imports more expensive
Indicate whether the statement is true or false
One firm previously operated as a monopoly. Now, one potential entrant exists. Consumers would prefer
A) entry, and the firms to split the output equally. B) no entry, and for the incumbent to produce the Stackelberg leader level of output. C) entry, and for the incumbent to produce the Stackelberg leader level of output. D) no entry, and the monopoly to continue.
The official term of office of the chairman of the Fed is
a. 2 years. b. 4 years. c. 7 years. d. 14 years.
Assuming QF is the full employment equilibrium then in Figure 11.2, if the level of spending is equal to AD1, the AD shortfall would be
A. Equal to YZ. B. Greater than XZ. C. Equal to XY. D. Equal to XZ.