The demand curve for a monopoly is:
a. the MC curve above the AVC curve.
b. the MR curve above the horizontal axis.
c. also the industry demand curve.
d. identical to the MR curve.
c. also the industry demand curve.
Economics
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Administrative costs make small loans less profitable than large ones, other things equal
a. True b. False
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In a perfectly competitive industry, influence over price is exerted by: a. individual sellers
b. individual buyers. c. the largest firms. d. the forces of market supply and demand.
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If the average costs of production decline with increases in output, then the larger a firm is, the lower its per unit costs will be
a. True b. False Indicate whether the statement is true or false
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Ceteris paribus means allowing all things to change.
a. true b. false
Economics