At the shut-down point
A. | The total losses of the firm equal TFC |
B. | TR = TVC |
C. | P = AVC |
D. | All of the above |
Option: D Explanation : Click on Discuss to view users comments. |
One way the government can induce a monopolist to expand his output is by imposing
A. | A price floor that makes the monopolist raise his price |
B. | A price ceiling that makes the monopolist lower his price |
C. | A specific tax on the monopolist's output |
D. | A heavy tax on the monopolist's profits |
Option: B Explanation : Click on Discuss to view users comments. |
When the consumer's income increases, the budget line on an indifference map moves to
A. | A parallel position to the right |
B. | A parallel position to the origin |
C. | A parallel position to the left |
D. | None of the above |
Option: A Explanation : Click on Discuss to view users comments. |