A single-price monopolist will maximize profit by producing so that marginal revenue

A) exceeds marginal cost.
B) is less than marginal cost.
C) equals marginal cost.
D) equals price.


C

Economics

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Which type of resource will improve through more education and training by workers?

A) money B) physical capital C) natural resources D) human capital

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When an input represents a small proportion of a firm's total costs, then

A) demand for the input will tend to be less elastic. B) the input demand will vary significantly with a change in input price. C) the usage of the input cannot be varied in the production function. D) output demand will be highly elastic.

Economics

If the positive effect of a greater quantity demanded more than offsets the negative effect of a lower price, then total revenue rises

Indicate whether the statement is true or false

Economics

In a BLS study, the average adult spends __________ per day on unpaid work.

A. 2.8 hours B. 5 hours C. 1.5 hours D. 0 hours

Economics