A ray through the origin always has a slope of one.
Answer the following statement true (T) or false (F)
False
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Governments may attempt to protect dairy farmers from low milk prices by:
A. banning the hoarding of milk by households. B. setting a minimum price on milk. C. increasing taxes on dairy farmers. D. reducing subsidies on the price of milk.
If a firm must produce a significant share of market output before low average costs can be achieved, the structure of this industry will tend to be
a. monopolistic competition b. perfect competition c. oligopoly d. either monopolistic competition or oligopoly e. either perfect competition or monopolistic competition
The demand curve for a monopoly is:
a. horizontal because of economics of scale. b. infinitely elastic. c. above the marginal revenue curve. d. below the marginal revenue curve.
Refer to the information provided in Table 3.1 below to answer the question(s) that follow. Table 3.1Price per PizzaQuantity Demanded (Pizzas per Month)Quantity Supplied (Pizzas per Month)$31,200 600 61,000 700 9 800 80012 600 90015 4001,000Refer to Table 3.1. If the price per pizza is greater than $15, there would most likely be a(n)
A. excess supply of more than 600 units. B. excess demand of less than 400 units. C. quantity demanded of more than 400 units. D. quantity supplied of less than 1,000 units.