Which of the following statements is FALSE?
A) An unregulated, profit-maximizing monopolist will not operate in the inelastic portion of the demand curve.
B) The marginal revenue earned by a monopolist will always be less than the product's price.
C) Typically there are numerous very close substitutes for the product of a monopolist.
D) For a profit-maximizing monopolist, marginal revenue equals marginal cost.
C
Economics
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In the Classical model, the price level is determined by
A) aggregate supply. B) the level of output. C) the Cambridge k. D) aggregate demand.
Economics
Output per worker is defined as
a. resource productivity b. the output-worker ratio c. labor productivity d. worker's GDP e. productive consumption
Economics