The government is undertaking a policy to deal with a monopoly. As a result, the monopoly's ATC curve is shifting upward. Most likely, which of the following policies is being used?
a. antitrust action
b. a regulatory commission sets a fair price
c. a regulatory commission sets a price equal to marginal cost
d. laissez-faire
e. encouraging concentration
B
Economics
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If business losses are the result of uncertainty in the real world, then
A) business profits are too. B) profits must equal losses in the short run. C) profits must equal losses in the long run. D) losses could be eliminated if we could eliminate uncertainty in the real world, but profits will still remain.
Economics
If total profit is maximized, then marginal cost must equal marginal revenue.
Answer the following statement true (T) or false (F)
Economics