A monopolist will not produce at all if the intersection of marginal revenue and marginal cost occurs at a quantity at which average cost lies above the demand curve.
Answer the following statement true (T) or false (F)
True
Rationale: In this case, there must be recurring fixed costs that are larger than the profit the firm can make in the absence of such recurring fixed costs -- and producing would therefore result in negative profit.
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Hannah and Chris each like jewelry and music by the Rolling Stones. If we were to graph an indifference curve with jewelry on the horizontal axis and CDs by the Rolling Stones on the vertical axis, then
a. Hannah and Chris would have identical indifference curves. b. Hannah's indifference curve would be higher than Chris's indifference curve. c. Chris's indifference curve would be higher than Hannah's indifference curve. d. Because we do not know the intensity of each woman's preferences, we do not have enough information to compare their indifference curves.
If you wanted to compare the quantity of output of a country across time periods, which of the following would you use?
What will be an ideal response?
Over the two decades leading up the 2008 crisis, ________ interest rates meant that consumers could take on ________ debt without significantly increasing the amount of debt service they had to pay.
A. falling; less B. falling; more C. rising; more D. rising; less
What is human capital? How is it related to labor markets?
What will be an ideal response?