When a monopolist's marginal cost of production is zero:
a. the deadweight loss is reduced.
b. production is lower than if marginal cost were positive.
c. the price charged is higher than if marginal cost were positive.
d. maximizing profit is same as maximizing revenue.
D
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During most of the 1980s, 1990s, and 2000s the U.S. has had a ________ current account balance and a ________ capital and financial account balance
A) positive; positive B) positive; negative C) negative; positive D) negative; negative
The marginal product of labor curve is the demand curve for labor
Indicate whether the statement is true or false
Suppose that the total expenditures for a typical household in 2015 equaled $2,500 per month, while the cost of purchasing exactly the same items in 2017 was $3,000. If 2015 is the base year, the CPI for 2015 equals:
A. 0.83 B. 1.20 C. 1.00 D. 1.25
If a firm has excess capacity, then
A) the firm expends too much of its resources on advertising its product without seeing an appreciable increase in sales. B) the firm is not producing its minimum efficient scale of output. C) the firm's long-run average cost of producing a given quantity exceeds its short-run cost of producing that same quantity. D) the firm's quantity supplied exceeds its quantity demanded.