All of the following statements, except one, are correct in short-run equilibrium for both a single-price monopolist and a monopolist that practices perfect price discrimination. Assume that both firms are able to earn at least a normal profit. Which statement is the exception?
a. Both face downward-sloping demand curves for their output.
b. Both produce all output units for which marginal revenue exceeds marginal cost.
c. Both produce in the range where marginal revenue is positive.
d. Both are price setters.
e. Both produce an output level for which price exceeds marginal cost.
E
Economics
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Everything else held constant, if aggregate output is to the right of the IS curve, then there is an excess ________ of goods which will cause aggregate output to ________
A) supply; fall B) supply; rise C) demand; fall D) demand; rise
Economics
Explain four problems with the argument that trade protection is needed to protect American jobs.
What will be an ideal response?
Economics