The unregulated profit maximizing monopolist prefers to operate where demand is inelastic
Indicate whether the statement is true or false
F Where demand is inelastic, marginal revenue is negative and the monopolist could maximize profit there only if marginal cost was also negative, which is most unlikely.
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Refer to the information below. What is slope of the demand curve?
A small nation has three gasoline suppliers with a linear monthly market demand equal to: Q = 500,000 - 5P. Each firm's marginal cost (MC) and average total cost (ATC) curves are horizontal at $10,000 per month. A) 0.20 B) -0.20 C) -5 D) 5
Distinguish the laws of demand and supply. How are the laws of demand and supply illustrated graphically?
The repercussions that the money wealth and international effects have on aggregate production and aggregate expenditure cause the aggregate demand curve to become steeper than it would be without such repercussions.
Answer the following statement true (T) or false (F)
How did the information revolution that kicked in during the late 1990s increase productivity?
A. Businesses learned how to use foreign suppliers to cut costs. B. Businesses were able to sell in larger markets through their websites. C. Businesses learned how to use computers to produce more output with fewer workers. D. Businesses began using the Internet to provide online training for workers.