In the long run, all of the following are true for a monopolist EXCEPT
A) P > ATC.
B) P = MC.
C) MR = MC.
D) P > AVC.
B
Economics
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If the government implements a tax on the general public to pay for street lighting in one neighborhood,
A) the tax redistributes well-being and the benevolent social planner is not pleased. B) the tax redistributes well-being, but the benevolent social planner is pleased. C) the tax reduces well being and the benevolent social planner is not pleased. D) the tax has no bearing on well-being and the benevolent social planner is indifferent.
Economics
In the above figure, the firm's total economic profit is equal to
A) $60. B) $200. C) $150. D) MR - MC.
Economics