McDonalds has traditionally been popular among Chinese children
Indicate whether the statement is true or false
TRUE
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For a monopoly firm,
a. price always exceeds average revenue. b. price always exceeds marginal revenue. c. any price-quantity combination will maximize profits. d. All of the above are correct.
Infrastructure improvements are more important to Keynesian economics than to supply-side economics.
Answer the following statement true (T) or false (F)
An increase in the number of sellers of a good will, ceteris paribus, __________________ for that good
A) increase equilibrium price and quantity B) increase equilibrium price and decrease equilibrium quantity C) decrease equilibrium price and increase equilibrium quantity D) decrease equilibrium price and quantity E) increase demand
Diseconomies of scale exist over the range of output for which the long-run average cost curve is:
A. constant. B. falling. C. rising. D. subject to diminishing returns.