Gary has won a laptop in an online auction. This implies that Gary's willingness to pay for the laptop was ________
A) higher than its market price
B) lower than its market price
C) higher than that of the other bidders
D) lower than that of at least one bidder
C
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A monopolistically competitive firm shuts down in the short run if ________
A) marginal revenue equals marginal cost B) total revenues do not cover variable costs C) marginal revenue covers average fixed costs D) average total cost exceeds price
Giving in-kind transfers will ensure that people get proper amounts of nutrition.
A. True B. False C. Uncertain
When the marginal revenue curve intersects the horizontal axis
A) demand is relatively elastic. B) demand is relatively inelastic. C) demand is perfectly elastic. D) demand is unitary elastic.
Micromania has recently experienced a slowdown in its labor productivity growth relative to its international trading partners. Micromania can expect, if this trend continues, the currency of its trading partners to be devalued
Indicate whether the statement is true or false