For a monopoly producing any output level greater than one, the average revenue curve:
A. lies below the demand curve.
B. lies above the marginal revenue curve.
C. is the same as the marginal revenue curve.
D. lies above the demand curve.
B. lies above the marginal revenue curve.
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More than 50 percent of all U.S. school children are bused to school
Indicate whether the statement is true or false
__________ identifies the level of Real GDP the economy produces when all economywide adjustments have taken place and there are no misperceptions on the part of workers
A) Short-run equilibrium B) Disequilibrium C) Long-run equilibrium D) Equilibrium E) none of the above
An eclectic aggregate supply curve:
A. Is the supply-side counterpart to monetarist and Keynesian assumptions about the shape of aggregate demand. B. Combines elements of the monetarist and Keynesian assumptions about the shape of aggregate supply. C. Maintains a constant upward slope as the economy moves through the business cycle. D. Is horizontal at all levels of output.
A production possibilities frontier that is a downward-sloping straight line implies
A) economies of scale. B) diseconomies of scale. C) economies of scope. D) no economies of scope.