Teacher absenteeism is a problem facing education in the developing world.
Answer the following statement true (T) or false (F)
True
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When a monopoly perfectly price discriminates, there is ________
A) no producer surplus B) an increase in supply C) no consumer surplus D) a large consumer surplus
For cities that provide snow removal, which of the following is a fixed cost?
a. gasoline for snow plows b. wages for snow plow drivers c. purchase of snow removal equipment d. purchase of salt or other substances used to melt snow
Refer to the above graph. Consider a monopolist in short-run equilibrium. This monopolist:
A. will cease production since its economic profits are negative. B. earns economic profit equal to area ABED. C. has total fixed costs equal to area BEFC. D. has total variable costs equal to area 0CFQ.
In which industry or sector of the economy is output least likely to be affected by the business cycle?
What will be an ideal response?