If Q = K2L2 the MPL is
a. constant
b. diminishing
c. increasing
c
Economics
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The demand curve for the product of a monopolist is
a. a straight horizontal line. b. identical to the market demand curve. c. identical to its MR curve. d. below its MR curve.
Economics
What would the Herfindahl-Hirschman Index equal for an industry consisting of 20 firms with each holding a 5% market share?
a. 20 b. 100 c. 500 d. 2,500
Economics
The fundamental reason that marginal cost eventually rises as output increases is because of
a. economies of scale. b. diseconomies of scale. c. diminishing marginal product. d. rising average fixed cost.
Economics
Who is a producer?
a. a manufacturer of goods b. a provider of financial backing c. a buyer of goods or services d. a provider of goods or services
Economics