For a monopolist that produces in the short run and does not price discriminate, price always has to be
a. equal to marginal cost at the profit-maximizing quantity
b. equal to marginal revenue at the profit-maximizing quantity
c. greater than marginal cost at the profit-maximizing quantity
d. less than marginal cost at the profit-maximizing quantity
e. less than marginal revenue at the profit-maximizing quantity
C
Economics
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The human skills theory is similar to the factor abundance theory of explaining the source of comparative advantage, except that the former concentrates only on different aspects of labor
a. True b. False Indicate whether the statement is true or false
Economics
If a household has $40,000 in taxable income and its tax liability is $20,000, the household's average tax rate is
a. 10 percent. b. 25 percent. c. 40 percent. d. 50 percent
Economics