The term marginal means
A. additional.
B. average.
C. total.
D. subjective.
Answer: A
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Why can a firm in monopolistic competition make an economic profit only in the short run?
What will be an ideal response?
Small businesses that operate outside the normal framework of laws and regulations are part of the
a. informal sector b. capital intensive sector c. International Comparison Project d. human capital network e. none of the above
A conglomerate merger involves combining firms
A. involved in the same industry. B. that are based in different countries. C. from unrelated industries. D. that control various stages of the production of a particular good from raw materials to finished manufacture.
If a market switches from being a perfectly competitive market to being a monopoly market, the decrease in consumer surplus is more than offset by an increase in producer profits.
Answer the following statement true (T) or false (F)