Refer to Table 6-8. What is the most distinctive feature of the supply curve?
A) The supply curve is horizontal. B) The supply curve is upward sloping.
C) The supply curve is perfectly elastic. D) The supply curve is perfectly inelastic.
D
Economics
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If the local cable TV company is a natural monopoly and required by regulators to set its price equal to marginal cost, there is a deadweight loss in the market and the firm might need a government subsidy to survive
Indicate whether the statement is true or false
Economics
If a firm is a price taker, its marginal revenue is:
a. equal to market price. b. less than market price. c. greater than market price. d. a multiple of market price that may be either greater than or less than one.
Economics