In the above figure, which of the following statements is FALSE ...

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In the above figure, which of the following statements is FALSE if the firm is operating at output level Q2?
 
  A) The output is equivalent to an unregulated monopolist.
  B) Economic profits are positive.
  C) The price is lower than at an equivalent firm forced by regulators to charge ATC pricing.
  D) Average costs would be lowered by expanding output.

Question 2

Whenever a society forgoes current consumption to invest in capital goods,
 
  A) it will have less to consume next year.
  B) it will be easier for that society to consume less in the future because people will become accustomed to less.
  C) that society can consume more in the future.
  D) it will be forced to produce fewer capital goods in the future.

[mcni194]

Answer to Question 1

C

Answer to Question 2

C

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Excellent

[dantucker]

Thanks for the timely response, appreciate it