A monopolist would not be able to make a positive profit at any price output combination when
A) marginal cost is less than average total cost for one more unit of output.
B) the average variable cost curve is everywhere above the marginal revenue curve.
C) the minimum point of the average total cost curve lies to the right of the minimum of the average variable cost curve.
D) the average total cost curve is everywhere above the demand curve.
Answer: D
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In a "crawling peg" regime, ________
A) the value of the currency is fixed to a basket of commodities B) higher inflation is permitted C) several anchor currencies are used in succession D) the currency may gain value, but cannot lose value
The marginal product of a factor of production
A) is equal to the ratio of the amount of that factor of production to the amount of output produced. B) is equal to the amount of additional output that can be produced with one additional unit of each factor input. C) is equal to the amount of additional output that can be produced with one additional unit of that factor input, holding constant the quantities of the other factor inputs. D) always exceeds the average product of that factor input, holding constant the quantities of the other factor inputs.