For a kinked demand curve, the marginal revenue curve is:
a. positively sloped.
b. a horizontal line.
c. a vertical line.
d. discontinuous.
e. above the demand curve.
d
Economics
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A decrease in equilibrium price increases consumer surplus because existing consumers leave the market due to this change in price
a. True b. False Indicate whether the statement is true or false
Economics
A bracelet making company has three employees, and together they produce 10 bracelets an hour. When a fourth worker joins them, the output for the company is now 11 bracelets an hour. Which of the following is true?
A. Average product has increased. B. Diminishing marginal product started with the fourth worker. C. Total product is increasing. D. None of these is true.
Economics