Even in the long run equilibrium, the pure monopolist (as opposed to the perfectly competitive firm) can make abnormal profits because of
| A. | Blocked entry |
| B. | His low LAC |
| C. | High price he charges |
| D. | Advertising |
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Option: A Explanation : Click on Discuss to view users comments. |
After reaching the saturation point, consumption of additional units of the commodity causes
| A. | Total utility and marginal utility both to increase |
| B. | Total utility to fall and marginal utility to increase |
| C. | Total utility to fall and marginal utility to become negative |
| D. | Total utility to become negative and marginal utility to fall |
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Option: C Explanation : Click on Discuss to view users comments. |
Economies of Scale means
| A. | Reductions in unit cost of production |
| B. | Reductions in unit cost of distribution |
| C. | Addition to the unit cost of production |
| D. | Reduction in the total cost of production |
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Option: A Explanation : Click on Discuss to view users comments. |
