If price is set equal to marginal cost when marginal cost is below ATC, the firm will receive a profit greater than profit earned when marginal cost is above ATC
Indicate whether the statement is true or false
F
Economics
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Antitrust laws in general are used to
a. prevent oligopolists from acting in ways that make markets less competitive. b. encourage oligopolists to pursue cooperative-interest at the expense of self-interest. c. encourage frivolous lawsuits among competitive firms. d. encourage all firms to cut production levels and cut prices.
Economics
When we move along a given demand curve,
a. only price is held constant.
b. income and price are held constant.
c. all nonprice determinants of demand are held constant.
d. all determinants of quantity demanded are held constant.
Economics