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 |
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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 |
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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 |
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Option: A Explanation : Click on Discuss to view users comments. |
