A monopolist will choose to increase output when
a. market price increases.
b. at all levels of output, marginal cost increases.
c. at the present level of output, marginal revenue exceeds marginal cost.
d. the demand curve shifts to the left.
c
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The equivalent variation is always less than the consumer's income
Indicate whether the statement is true or false
The Delphi method is a
A) smoothing technique in forecasting. B) consensual forecast based on expert opinions. C) compound growth approach to forecasting. D) naïve forecasting approach.
If a retail food chain merged with a meat packing company, this would be an example of a
A) horizontal merger. B) conglomerate merger. C) vertical merger. D) diagonal merger.
Some colleges now offer massive open online courses (MOOCs), where students do not need to be in the same classroom as their instructors
The fixed cost of an online course is relatively ________, but after the courses are placed online, the marginal cost of providing instruction to an additional student is ________. A) high; low B) high; high C) low; high D) low; low