It is a mistake to calculate the cost per mile of owning a car because doing so implies
A) additional driving will lower the cost of owning a car.
B) future fuel and maintenance costs cannot be predicted.
C) marginal costs are the only relevant costs.
D) opportunities will not arise to sell the car.
A
Economics
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Which of the following statements is TRUE?
A) All monopolists are perfect price discriminators. B) All monopolists earn short-run economic profits. C) A monopolist will leave the market if it incurs an economic loss in the long run. D) A monopolist does not need barriers to entry to sustain a long-run economic profit.
Economics
If the expansion of an export industry leads to the provision of infrastructure such as roads or airports, this is called a(n)
A) secondary effect. B) linkage effect. C) elementary effect. D) None of the above.
Economics