A monopolist's demand curve
a. is horizontal at the market price
b. lies above its marginal revenue curve
c. is the same as its marginal cost curve
d. indicates that the firm must raise price to sell additional units
e. lies above the marginal cost curve at all levels of output
B
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Using the figure above, which of the following statements are correct?
i. When 3 haircuts are produced, the firm's ATC is $10. ii. If the firm charges each customer the same price for a haircut, the price of a haircut is $14. iii. The firm is NOT a perfect competitor. A) i only B) ii only C) i and ii D) i and iii E) i, ii, and iii
A college requesting applicants to submit their high school transcripts is an example of:
A. signaling. B. screening. C. statistical discrimination. D. building a reputation.
Admission to Disney World is an example of a private good from which nonpaying individuals can be excluded
a. True b. False Indicate whether the statement is true or false
The U.S. government sets a minimum wage, which is a:
a. price floor. b. price ceiling. c. point of equilibrium. d. recommended level.