Starting from long-run equilibrium, an increase in autonomous consumption results in ________ output in the short run and ________ output in the long run.

Monopolies and oligopolies both erect barriers to entry through the use of

A) price cutting. B) patents. C) franchising. D) advertising.

When average variable cost is at its minimum, it is equal to the marginal cost of production at that level of output

Indicate whether the statement is true or false