A profit-maximizing monopolist will always raise output if marginal revenue exceeds marginal cost.
Answer the following statement true (T) or false (F)
True
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Refer to the above figure. Which one of the following statements is TRUE with regard to the economy depicted in the graph?
A. Starting from point A, this economy does not incur any opportunity cost in producing more wool. B. In moving from point A to point B, the economy is experiencing economic growth. C. Starting from point A, this economy does not incur any opportunity cost in producing more bread. D. In moving from point A to point B, the economy produces 30 additional bales of wool at an opportunity cost of 250 loaves of bread.
In a simple macroeconomic model, replacing the assumption of exogenous investment with the accelerator theory of investment ________ the effect on equilibrium GDP of fiscal policy changes, and ________ the effect on equilibrium GDP of changes in
autonomous consumption. A) increases, increases B) increases, dampens C) dampens, increases D) dampens, dampens
In the Santa Rita silver mines in Arizona in 1870, Mexican miners received about $12 per month, while “American” miners received $70. Although the wages of both groups tended to rise over time, the gap persisted until at least 1910. Mexican and American miners did the same work and were equally productive. Economists call this pay differential as
A. prejudicial differentials. B. compensating differentials. C. economic discrimination. D. Lorenz discrimination.
Which of the following factors is not part of an individual's stock of human capital?
A. Initiative B. Intelligence C. Years of education D. Employment status