Refer to the above graph. Consider a monopolist in short-run equilibrium. This monopolist has total fixed cost equal to area:
A. ABED.
B. ADFC.
C. 0CFQ.
D. BEFC.
Answer: B
Economics
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All of the following would be considered a current account transaction EXCEPT the
A) importing of services. B) exporting of goods. C) importing of capital. D) importing of goods.
Economics
The notion that the second unit of a good consumed improves the happiness of the consumer by less than the first unit improved the happiness of the consumer is summarized as
A. the real-balances effect. B. diminishing marginal utility. C. the substitution effect.
Economics
Which of the following best illustrates the use of discretionary fiscal policy?
What will be an ideal response?
Economics
Refer to the figure above. What is the price elasticity of supply between points A and B above?
A. 2 B. 1 C. -1 D. 1/3
Economics