Average cost equals total cost multiplied by the number of units of output

"A profit-maximizing monopoly never produces an output in the inelastic range of its demand curve." True or false? Explain

What will be an ideal response?

When there is extremely high and volatile inflation in an economy, the decision-making of firms leads to a very ________ SAS curve and thus relatively ________ cycles in real GDP

A) steep, mild B) steep, violent C) flat, mild D) flat, violent