A single-price monopoly is characterized by a marginal revenue curve that is

The graph above shows the PPC for a country that can produce oil or televisions. The straight line is the trade line and CPC if production is at Point A. Is this country producing the optimal mix of oil and televisions to maximize its income? Carefully explain how you know

What will be an ideal response?

If the graph shown is displaying a competitive market and the market is currently offering a wage less than P*:

A. there would be a shortage of workers who want to work at that wage.
B. there would not be unemployment in the market.
C. firms would have a hard time finding employees.
D. All of these statements are true.