In many regulated industries, marginal cost will be
A. below average cost.
B. above total cost.
C. above marginal fixed cost.
D. below incremental cost.
Answer: A
Economics
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In the U.S. the total amount of work time lost to strikes is less than the amount of work time lost for coffee breaks
a. True b. False Indicate whether the statement is true or false
Economics
Refer to the graph below. All data are for the short run. Which of the following statements is correct?
A. Production is profitable only when price is above P3
B. Average fixed cost is P1 P3 at output Q1
C. The firm will produce an output of Q1 when price is P1
D. At price P1, the firm will close down
Economics