The marginal revenue curve for a monopolist
a. is identical to its demand curve.
b. is always below its demand curve if the demand curve is downward sloping.
c. is always below its demand curve if the demand curve is horizontal.
d. typically crosses the average revenue curve.
b
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If a firm has a downward-sloping long-run average cost curve over the entire range of market demand, it is a
a. local monopoly b. resource monopoly c. monopsony d. output monopoly e. natural monopoly
When an exchange rate is established as a fixed peg, active intervention may be required to maintain the target-pegged rate
a. True b. False Indicate whether the statement is true or false
Which of the following is most likely to reduce the market wage rate in a job category?
a. The job is widely viewed as dangerous. b. The job requires employees to move from city to city quite often. c. The job requires substantial out-of-town travel. d. Employees have considerable flexibility in choosing their work hours.
Which of the following is an accurate statement about this graph?
a. PE is less than PRC.
b. QD is more than QS.
c. Demand at the rent ceiling is less than the demand at equilibrium.
d. Supply is more than demand at equilibrium.