The supply curve for a monopolist is the upsloping portion of the marginal cost curve that lies above the average variable cost curve.
Answer the following statement true (T) or false (F)
False
You might also like to view...
In the IS equation, which of the following is an exogenous variable?
A) planned investment spending B) real interest rate C) consumption D) all of the above E) none of the above
Figure 1A.1Refer to Figure 1A.1. The slope of the line between the points where income equals 50 and income equals 200 is:
A. 0.2. B. 5. C. 10. D. 50.
A French worker can produce either 4 barrels of wine or 16 shirts a week; and Italian worker can produce either 10 barrels of wine or 20 shirts a week.
A. After the countries begin to trade, one barrel of wine will cost between four and eight shirts. B. France has an absolute advantage in both wine and shirts. C. France will export shirts and import wine. D. France has an absolute advantage in making shirts.
In order to maximize profits in the short run, a price taker should always produce at the output level where marginal cost is equal to price.
Answer the following statement(s) true (T) or false (F)