So long as a monopolist finds itself in the situation where price is greater than average fixed cost at the profit-maximizing (loss-minimizing) level of output, the firm should continue to operate to minimize its losses
Indicate whether the statement is true or false
FALSE
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For the federal government, what is the difference between discretionary spending and mandatory spending? What categories of spending account for the largest amount of the federal government's discretionary spending and mandatory spending?
What will be an ideal response?
A rise in the exchange rate leads to a decrease in the quantity of dollars demanded
Indicate whether the statement is true or false
The supply curve reflects the:
a. inverse relationship between price and quantity offered. b. positive relationship between demand and supply. c. negative relationship between price and quantity bought. d. positive relationship between price and quantity bought. e. positive relationship between price and quantity offered.
Suppose an industry initially had been perfectly competitive and then became a monopoly. Which of the following would occur?
a. Consumer surplus would decrease. b. Consumer surplus would increase. c. Producer surplus would decrease. d. The deadweight loss would be eliminated.