If a monopolist is producing at an output rate at which P = ATC, then
A) its economic profit will be zero.
B) its economic profit will be positive.
C) it is maximizing its profits.
D) it is minimizing its losses.
A
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How will a decrease in price tend to affect supply?
A. Supply will increase. B. Supply will decrease. C. Supply will not change. D. Uncertain.
Education of girls is a crucial development investment because
(a) it leads to improved child health. (b) it leads to reduced fertility. (c) women do most of the work in agriculture. (d) all of the above.
Which factor of production accounts for the highest percentage of the income that the production process generates in the US?
a. Capital b. Natural Resource c. Land d. Labor
The demand for labor curve depicts the inverse relationship between the wage rate and the revenue generated by each unit of labor
a. True b. False Indicate whether the statement is true or false