To maximize profits, the monopolist should produce at which
A. total revenue is maximized.
B. MC intersects the demand curve.
C. total costs are minimized.
D. MR = MC.
Answer: D
You might also like to view...
Which of the following best describes the movement from E1 to E2?
a. a decrease in supply b. an increase in supply c. a movement along the supply curve d. a decrease in demand
Expected value refers to the
A. Present value of a future payment. B. Difference in the rates of return on risky and safe investments. C. Probable value of a future payment, including the risk of nonpayment. D. Future value of a current payment.
An inflationary gap exists when the macro economy is in equilibrium at more than the potential output of the economy because aggregate demand is so high that the economy is operating temporarily beyond its long-run capacity.In other words, the AD=AS occurs to the right of the vertical long-run supply curve.
Indicate whether the statement is true or false.
Ha-eun just received a significant increase in salary. Considering this, her demand for which of the following would most likely increase?
a. discounted produce b. meals in gourmet restaurants c. frozen foods d. meals in fast-food restaurants