1.The long run average cost curve a. is identical to the profit maximizing short run average cost curve b. Envelopes the short run average cost curves c. lies above the short run average cost curves d. lies to the right of the short run average cost curves
1.The long run average cost curve
a. is identical to the profit maximizing short run average cost curve
b. Envelopes the short run average cost curves
c. lies above the short run average cost curves
d. lies to the right of the short run average cost curves
2. On a diagram, you can find the profit-maximizing quantity of output for a monapoly by identifying the quantity where
a. marginal revenue intersects marginal cost.
b. marginal cost, marginal revenue, and
c. marginal cost intersects demand
d. marginal revenue intersects demand
3. À
a. A closed monopoly
b. A contestable monopoly
c. A natural monopoly
d. An open monopoly
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