In the short run, a monopolist will shut down when
a. average total cost is greater than price at all output levels
b. average variable cost is greater than average fixed cost at all output levels
c. price is greater than average variable cost at all output levels
d. average fixed cost is greater than price at all output levels
e. average variable cost is greater than price at all output levels
E
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To construct an ordinary demand curve for good X,
a. change the price of good X in the consumer choice diagram and observe the change in the quantity of good X among the optimum market baskets. b. change the prices of both goods in the consumer choice diagram and observe the change in the quantity of good X among the optimum market baskets. c. change the price of good Y in the consumer choice diagram and observe the change in the quantity of good X among the optimum market baskets. d. change the consumer's income in the consumer choice diagram and observe the change in the quantity of good X.
Money's use in non-barter transactions relates to its role as a
A) store of value. B) medium of exchange. C) unit of accounting. D) standard of deferred payment.
Answer the next question on the basis of the following demand schedule.PriceQuantity Demanded$615243342516The price elasticity of demand is relatively inelastic (based on the midpoint formula)
A. over the entire $6-$1 price range. B. in the $6-$5 price range only. C. in the $3-$1 price range. D. in the $6-$4 price range.
Refer to the data provided in Table 11.3 below to answer the following question(s). Table 11.3ProjectTotal InvestmentExpected Rate of Return(dollars) (percentage)New computer for sales staff $250,00011Remodel for distribution center$200,000 9On-site day care center $100,000 5Employee fitness center$50,000 4Refer to Table 11.3. If the interest rate is 4.5%, Blackstar Drone Manufacturing's total investment would be
A. $100,000. B. $150,000. C. $450,000. D. $550,000.