The competitive firm's supply curve is equal to
A) its marginal cost curve.
B) the portion of its marginal cost curve that lies above AC.
C) the portion of its marginal cost curve that lies above AVC.
D) the portion of its marginal cost curve that lies above AFC.
C
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A natural monopoly's output is less if it is regulated with
A) a marginal cost pricing rule than if it is unregulated. B) an average cost pricing rule than if it is unregulated. C) an average cost pricing rule than if it is regulated with a marginal cost pricing rule. D) a marginal cost pricing rule than if it is regulated with an average cost pricing rule. E) More information about the firm's demand is needed to determine how its output depends on what regulation it faces.
In 2014, which component of GDP had a negative value?
A) investment B) government spending C) net exports D) consumption
Which of the following is NOT true of an oligopoly?
A) They advertise their product. B) The firms recognize their interdependence. C) A few firm account for a large portion of the total output. D) Firms are price takers.
In high-income nations, the diminishing returns associated with capital deepening can offset the gains from technology
a. True b. False Indicate whether the statement is true or false