For a monopolist,
a. average revenue is always greater than the price of the good.
b. marginal revenue is always less than the price of the good.
c. marginal cost is always greater than average total cost.
d. marginal revenue equals marginal cost at the point where total revenue is maximized.
b
Economics
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Use the Cobb-Douglas production function to explain why even massive movements of labor and capital across national borders may have little impact on differences in per capita income
What will be an ideal response?
Economics
The cost to society of unemployment can be expressed in terms of
a. increased unemployment benefits paid for by taxpayers b. lower real GDP c. increased government involvement in the economy d. decreased tax revenues e. increased government spending
Economics