The figure above shows the demand for and costs of producing Charlene's Chocolates. If Charlene's Chocolates is a monopoly that charges one price to all customers, then consumer surplus is ________ and it creates a deadweight loss of ________
A) $800; $400
B) $200; $100
C) $400; $200
D) $0; $200
C
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The figure above shows supply curves for soft drinks. Suppose the economy is at point a. A movement to point d would be the result of
A) an increase in technology. B) a decrease in the relative price of a soft drink. C) an increase in the relative price of a soft drink. D) an increase in the number of soft drink suppliers.
Over the range of output for which the average product of labor curve is negatively sloped, the average variable cost curve is positively sloped
Indicate whether the statement is true or false
All else constant, an increase in the incomes of consumers in the market for diamonds would cause the supply of diamonds to increase
Indicate whether the statement is true or false
A clothing store can sell two shirts for $20 each or three shirts for $18 each. At a quantity of three shirts sold, marginal revenue is _____
a. $18 b. $14 c. $54 d. $20 e. $44