Suppose a monopolist's demand curve lies below its average variable cost curve. The firm will:
a. stay in operation in the short-run.
b. earn an economic profit.
c. earn an economic profit in the long run.
d. shut down.
d
Economics
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When did the Federal Reserve Act become law?
A) 1836 B) 1913 C) 1936 D) 1951
Economics
When an economy is operating at a point on its production possibilities frontier, then
a. consumers are content with the mix of goods and services that is being produced. b. there is no way to produce more of one good without producing less of the other. c. equal amounts of the two goods are being produced. d. All of the above are correct.
Economics