If a monopolist is producing the output level at which price equals average total cost in the short run, then the firm is earning a normal profit
a. True
b. False
Indicate whether the statement is true or false
True
Economics
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What will be an ideal response?
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Figure 10-3
Starting from long-run equilibrium at point A in , at which of the following points would short-run equilibrium occur immediately following an unanticipated increase in stock prices?
a.
A
b.
B
c.
C
d.
D
Economics
A free-rider problem occurs when the
A) good is excludable. B) good is offered at no charge. C) good is rival. D) good is nonexcludable.
Economics
If the government wishes to increase GDP by $1,200b, and the MPC is 0.75, it should:
A. increase its spending by $300b. B. decrease its spending by $300b. C. increase its spending by $900b. D. decrease its spending by $900b.
Economics