Monopolists differ from perfectly competitive firms
A. on neither the cost nor demand sides of the profit equation.
B. on the demand side of the profit equation alone.
C. on the cost side of the profit equation alone.
D. on the cost and demand sides of the profit equation.
Answer: B
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Which of the following will not cause a short-run shift in the supply curve?
A) a change in the number of sellers B) a change in the cost of resources C) a change in the price of the product D) a change in future expectations
New classical economists contend that both the short-run and long-run aggregate supply curves are vertical
a. True b. False Indicate whether the statement is true or false
Studies of NAFTA have concluded that from 1994 to 2003, free trade caused ______ increases in the productivity of Mexican maquiladora firms producing for export than for Mexican firms mainly producing for the Mexican domestic market.
a. larger b. smaller c. identical d. substantially larger
Assuming demand is a straight line, the equation of the inverse demand curve is represented as
A. P = a - bQd. B. Q = a - bPd. C. P - Qd = a + b. D. Qd = a + bP.