Because it is the only firm operating in a particular market, a monopolist is guaranteed to earn an economic profit
Indicate whether the statement is true or false
FALSE
Economics
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Suppose a firm produces pollution when it generates electricity. The cost of the pollution is called the
A) marginal cost. B) marginal private cost. C) marginal external cost. D) marginal social cost.
Economics
For a linear demand curve, demand is ____ elastic at _____ prices.
B. less; higher C. more; lower D. constantly; all
Economics
Which point or points on the above figure illustrate a short-run equilibrium?
A. Point A B. Point B C. Point C D. Points A and C
Economics
Labor productivity growth is the growth rate of output
A. for labor-intensive economies. B. per worker in the economy. C. per person in the economy. D. for the entire economy.
Economics