An oligopoly showing no economic profit or loss has
a. an AR curve tangent to the lowest point of its ATC curve.
b. an AR curve tangent to its ATC curve to the left of the lowest point.
c. an MR curve above its AR curve.
d. an AR curve that crosses its ATC curve.
b. an AR curve tangent to its ATC curve to the left of the lowest point.
You might also like to view...
Refer to the figure below. In response to gradually falling inflation, this economy will eventually move from its short-run equilibrium to its long-run equilibrium. Graphically, this would be seen as 
A. long-run aggregate supply shifting leftward B. Short-run aggregate supply shifting upward C. Short-run aggregate supply shifting downward D. Aggregate demand shifting leftward
The table above gives the domestic demand and supply schedules for a good. Suppose the world price of the good is $40 and the government imposes a $20 per unit tariff. How much will the government collect as tariff revenue?
A) $160 B) $360 C) $320 D) $240 E) $80
In an unregulated market for healthcare, the equilibrium quantity is that at which ________ and the efficient quantity is that at which ________
A) D = S; MB = MSC B) D = S; MSB = MSC C) D = MSC; MB = MSC D) MSB = S; MB = S
In Figure 4.1, the demand curve that has a zero elasticity is show in graph:
A. A. B. B. C. C. D. D.