The marginal cost curve is U-shaped. Over the range of output for which the marg
ID: 1221431 • Letter: T
Question
The marginal cost curve is U-shaped. Over the range of output for which the marginal cost is falling as output increases, the marginal product is constant. decreasing. increasing. probably changing, but there is no stable relationship between the marginal cost and the marginal product. not defined. Compared to a perfectly competitive industry, a single-price monopoly with the same costs will create a deadweight loss. B) create less economic profit. create less consumer surplus. D) Both answers A and C are correct. If a perfectly competitive firm is maximizing its profit and is making an economic profit, which of the following is correct? Price equals marginal revenue. Marginal revenue equals marginal cost. iii. Price is greater than average total cost. i and ii only i only i and iii only ii and iii only i, ii, and iii When comparing a single-price monopoly to a perfectly competitive market with the same costs the monopoly's output is smaller and the monopoly's price is higher than the perfectly competitive market's output and price. the monopoly's output is higher and the monopoly's price is lower than the perfectly competitive market's output and price. both the monopoly's output and price are higher than the perfectly competitive market's output and price. both the monopoly's output and price are lower than the perfectly competitive market's output and price.Explanation / Answer
Q20
Ans is C:- increasing
Q21
Ans
D
Q22
A
Q23
A
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.