If a monopolist is forced to set price equal to average total cost, economic profit
a. will be negative, and the monopolist may go out of business
b. will be zero
c. will be positive
d. will be negative, and the firm will stay in business if there are significant fixed costs
e. may be positive, negative, or zero
B
Economics
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Money is a medium of exchange in that
A) money is generally accepted for buying and selling goods and services. B) currency may be exchanged for gold at any national bank. C) other assets may be better or worse in facilitating exchange than money. D) it must maintain most of its value over time.
Economics
Refer to Figure 14.2. Other things equal, an increase in worker productivity would best be represented by a movement from
A) point A to point B. B) point B to point A. C) point C to point A. D) point C to point B.
Economics