A monopolist's profit-maximizing level of output occurs where:
a. marginal revenue equals marginal cost.
b. price equals marginal cost.
c. average total cost is at a minimum.
d. price equals average revenue.
a
Economics
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A $100 billion increase in government purchases would:
a. increase AD by $500 billion if MPC = 0.8. b. decrease AD by $300 billion if MPC = 2/3. c. decrease AD by $200 billion if MPC = 0.9. d. decrease AD by $40 billion if MPC = 0.4.
Economics