As long as P>AVC, a monopolist maximizes profit by producing the quantity at which

The chain-weighted index for GDP and the CPI differ in that the CPI

A) asks how much a fixed basket of goods costs in the current year as compared to the cost of those same goods in a base year while the chain-weighted index takes an average of price changes using base years from neighboring years. B) excludes price changes from used and imported goods while the chain-weighted index includes these price changes. C) is calculated by the Commerce Department while the chain-weighted index is calculated by local newspapers. D) is calculated in nominal terms and the chain-weighted index is calculated in real terms.

A single production possibilities frontier assumes

A) a given set of resources. B) only one good can be produced from a given set of resources. C) resources are free. D) there are no opportunity costs of production. E) all of the above.