So long as a monopolist finds itself in the situation where price is greater than average fixed cost at the profit-maximizing (loss-minimizing) level of output, the firm should continue to operate to minimize its losses

Under rent control, landlords cease to be responsive to tenants' concerns about the quality of the housing because

a. with shortages and waiting lists, they have no incentive to maintain and improve their property. b. they become resigned to the fact that many of their apartments are going to be vacant at any given time. c. with rent control the government guarantees landlords a minimal level of profit. d. with rent control it becomes the government's responsibility to maintain rental housing.

Data from the registrar's office at Gigantic State University indicate that over the past 20 years tuition and enrollment have both increased. From this information we can conclude that:

A. GSU's supply curve of education is downsloping. B. the supply of education provided by GSU has also increased over the 20-year period. C. school-age population, incomes, and preferences for education have changed over the 20-year period. D. higher education is an exception to the law of demand.