Author Question: To earn an economic profit in the short-run, a monopolist sets marginal revenue equal to zero. a. ... (Read 65 times)

codyclark · **on:** Jun 30, 2018

To earn an economic profit in the short-run, a monopolist sets marginal revenue equal to zero.
a. True
b. False
Indicate whether the statement is true or false

Question 2

The substitution effect is the concept that changes in consumption of a good result from changes in the relative price of a competing good.
a. True
b. False
Indicate whether the statement is true or false