Assume that a monopolist faces the demand schedule given in the table below and a constant marginal cost of $50 for each unit of output. To maximize profits, the monopolist would produce ____ units of output at a price of ____ per unit.
a. 5,000; $50
b. 4,000; $60
c. 3,000; $70
d. 2,000; $80
c. 3.000; $70
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Oligopolistic firms never collude because they have almost no incentive to do so
a. True b. False Indicate whether the statement is true or false
A financial statement that sums up a firm's financial position on a particular day is
A) a balance sheet. B) an income statement. C) statement of cash flow. D) an equity report.
The aggregate demand curve shows the:
a. Direct relationship between the price level and real GDP produced b. Inverse relationship between interest rates and real GDP produced c. Inverse relationship between the price level and real GDP purchased d. Direct relationship between real-balances and real GDP purchased
A firm's short-run supply curve is its marginal cost curve above the shut-down point.
Answer the following statement true (T) or false (F)