A monopoly that results from economies of scale is called a(n):

Which of the following does the federal reserve use most often to combat a recession?

a) selling securities b) buying securities c) reducing reserve requirement d) increasing discount rate e) increasing federal funds rate

Mike's Pretzels employs labor at a wage rate of $8 per hour and rents capital for $20 per hour. At its current level of labor and capital, the marginal product of labor is 24 and the marginal product of capital is 55

Is the firm currently maximizing profit? Explain.