A pure monopolist:
A. will realize an economic profit if price exceeds ATC at the profit-maximizing/loss-minimizing
level of output.
B. will realize an economic profit if ATC exceeds MR at the profit-maximizing/loss-minimizing
level of output.
C. will realize an economic loss if MC intersects the downsloping portion of MR.
D. always realizes an economic profit.
Answer: A
Economics
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The Laffer curve is a curve showing
A) output as a function of the tax rate. B) tax revenue as a function of the tax rate. C) government expenses as a function of how liberal the government is. D) the tax rate as a function of government expenses.
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Given the Republic of Korea's experience, what can we conclude about comparative advantage?
What will be an ideal response?
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