Using the above figure, which of the lines in the above diagram represents a proportional tax?

In the long run, all of the following are true for a monopolist EXCEPT

A) P > ATC. B) P = MC. C) MR = MC. D) P > AVC.

Canada is said to have an absolute advantage vis-à-vis the U.S. in the production of cod because it can produce cod

a. in larger quantities b. while the U.S. can't c. at a lower opportunity cost d. with fewer resources e. at a higher opportunity cost