A key difference between a monopoly and a perfectly competitive firm is that the monopolist
A) does not face fixed costs in the short run.
B) has a marginal revenue curve that lies below its demand curve.
C) has no marginal cost curve.
D) faces a perfectly elastic demand for its product.
B
Economics
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The value of the marginal product of labor is the:
A) value of the output produced by all the workers in a firm. B) contribution of an additional unit of labor to a firm's revenue. C) extra output that is produced by hiring an additional unit of labor. D) amount of output produced by the first unit of labor hired by a firm.
Economics
If a US citizen is employed by a US company in Russia, the income she earns is:
a. part of US GNP and Russian GDP. b. part of US GNP and Russian GNP. c. part of US GDP and Russi GNP d. part of US GDP and Russia GDP.
Economics