Monopolies ________ society's total surplus by producing ________ than the efficient quantity.
A) decrease; more
B) increase; less
C) decrease; less
D) increase; more
C) decrease; less
Economics
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In the short run, in a perfectly competitive market, a firm will shut down if
A) P < AVC for all levels of output. B) P < ATC for all levels of output. C) ATC > P > AVC for all levels of output. D) P > AFC for all levels of output.
Economics
Marginal utility is total utility divided by the number of units consumed
a. True b. False Indicate whether the statement is true or false
Economics