For a fixed proportion production function, at the vertex of any of the (L-shaped) isoquants the marginal productivity of either input is:

________ is defined as first pricing below fair value to drive domestic firms from the market and then pricing as monopolists

A) Predatory subsidization B) Monopoly subsidization C) Predatory dumping D) Monopoly dumping

Answer the following statement true (T) or false (F)

1) Supply-side market failures occur because it is impossible in certain cases for sellers to charge consumers what they are willing to pay for a product. 2) When a supply-side market failure occurs, the costs are greater than the benefits for the last unit(s) of output produced. 3) Along a demand curve, product price and consumer surplus are inversely related. 4) Along a supply curve, product price and producer surplus are inversely related.