Marginal cost is calculated by dividing the change in total cost by the change in total output
a. True
b. False
Indicate whether the statement is true or false
True
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What is a natural monopoly? Why is government justified in regulating a natural monopoly?
What would happen if you decreased the price to $2 and decreased the quantity supplied to 4,000 pounds?
a. You would create a shortage.
b. You would maintain the same surplus.
c. You would reach equilibrium.
d. You would reduce the surplus.
The purpose of antitrust policy is to:
A. promote competition among firms. B. increase profits to firms. C. protect domestic firms from foreign trade. D. achieve scale economies in production.
When one country has higher nominal interest rates than another country, the high-interest-rate currency is expected to ________ relative to the low-interest-rate currency
A) depreciate B) appreciate C) stay constant D) None of the above