Suppose a monopolist cannot price discriminate. To maximize profit, it will
a. always produce in the inelastic range of its demand curve
b. never produce in the elastic range of its demand curve
c. never produce in the inelastic range of its demand curve
d. never produce in the elastic range of its marginal cost curve
e. produce in the elastic range of the marginal revenue curve
C
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Which of the following is a reason behind the rise in US trade over the last 80 years?
A) Rising government expenditure B) Improved bureaucracy C) Improved transportation technology D) Falling consumption expenditure
Labor productivity is measured by dividing Gross Domestic Product (GDP) by population
Indicate whether the statement is true or false
A major problem in projecting with a trend line is that
A) only straight-line projections can be accommodated. B) it is valid only if the trend is upward. C) it will not forecast turning points in activity. D) it is a very complex method of forecasting.
As the number of players grows, the costs of game playing fall
Indicate whether the statement is true or false