A monopolist should shut down in the short run if
a. price is less than average variable cost
b. price is greater than average total cost
c. marginal revenue equals marginal cost
d. marginal revenue is less than marginal cost
e. price exceeds average fixed cost
A
Economics
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Refer to Figure 3-4. If the price is $10
A) there would be a surplus of 600 units. B) there would be a surplus of 200 units. C) there would be a shortage of 200 units. D) there would be a shortage of 600 units.
Economics
When the percentage change in quantity supplied is greater than the percentage change in price, supply is said to be elastic
Indicate whether the statement is true or false
Economics