Which statement is true?
A. The monopolist operates at the minimum point of its average total cost curve.
B. Once a monopoly is set up, it is impossible to dislodge it.
C. Monopolies are always large firms.
D. Price is always read off the demand curve.
D. Price is always read off the demand curve.
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Compounding is:
A. the process of deposits steadily increasing a set amount annually. B. the process of accumulation of additional interest paid on interest that has already been earned. C. the process of adding the percentage of interest times your initial principal yearly. D. None of these statements is true.
In fair return pricing:
a. price is set equal to marginal cost. b. the firm incurs economic losses. c. the firm earns zero economic profit. d. the firm earns zero accounting profit.
The slope of the wage-schooling locus provides an estimate of the
A. marginal cost of an additional year of schooling. B. economic return to an additional year of schooling. C. average wage or salary of workers for a given level of schooling. D. average years of education as a function of age. E. economic cost of an additional year of schooling.
The implementation of the assembly line is an example of how
A) changes in the organization of production improve productivity. B) neutral technical change improves productivity. C) non-neutral technical change can decrease productivity. D) labor saving technical change increases economy-wide unemployment.