A monopoly always operates in the inelastic portion of its demand curve

Indicate whether the statement is true or false


False. A monopoly never operates in the inelastic portion of its demand curve. Marginal revenue is negative in this region.

Economics

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Suppose a nation's population grows by 2 percent and, at the same time, its GDP grows by 5 percent. Approximately how fast will real GDP per person increase?

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Trade allows each country to take advantage of lower ___________ costs in the other country.

a. replacement b. opportunity c. marginal d. retail

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You observe that at your current production of rutabaga, the average total cost of producing rutabaga is $1 and the marginal cost of producing rutabaga is $2. What should always happen if you increase rutabaga production?

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Experience ratings provide firms with an incentive NOT to:

A. hire older workers. B. invest in health and safety programs. C. hire disabled workers. D. both hire older workers and hire disabled workers

Economics