If a monopolist is producing a rate of output at which market demand is inelastic,
a. it may or may not be maximizing its short-run profit
b. reducing output would reduce both total revenue and total cost
c. reducing output would increase both total revenue and total cost
d. reducing output would increase total revenue and reduce total cost
e. increasing output will increase its short-run economic profit
D
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When we use the specificfactors model to study immigration, we assume that:
a. land is immobile internationally but capital and labor are internationally mobile. b. land and capital are immobile internationally but labor is internationally mobile. c. land, labor, and capital are internationally mobile. d. land, labor, and capital are internationally immobile.
Prior to financial deregulation, the store of value and medium of exchange functions of money were maintained separate among asset classes because the regulatory agencies
A) precluded the payment of interest by checking accounts. B) allowed the payment of interest by checking accounts. C) specifically prohibited money market stock funds. D) allowed the payment of interest on passbook savings accounts.