The monopolist's total revenue curve is represented graphically by a positively sloped line.

Answer the following statement true (T) or false (F)


False

Economics

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As price decreases along a linear demand curve, price elasticity of demand decreases

a. True b. False

Economics

Which of the following is the best indicator of standard of living?

a. Nominal GDP b. Real GDP c. Real GDP per capita d. Productivity e. Productivity per unit of labor

Economics

If the U-shaped ATC curve is flattened out at its lowest point(s), we would have

A. diminishing returns. B. increasing returns. C. negative returns. D. proportional returns to scale.

Economics

When ________ scale of production leads to ________ average costs, an industry exhibits increasing returns to scale.

A. decreased; higher B. decreased; unchanging C. decreased; lower D. increased; higher

Economics