If the total revenue curve lies completely below the total cost ...

[jake]

If the total revenue curve lies completely below the total cost curve, economic profit is zero.
 a. True
  b. False

Question 2

Suppose Bank-in-the-Box is a monopolist in its market area. If the market wage rate of bank tellers rises, the bank will
 a. maintain price and suffer losses
  b. raise price and earn greater profit
  c. raise price but earn less profit
  d. lower price to boost sales
  e. shut down if AVC is less than price

[krakiolit]

Answer to Question 1

B

Answer to Question 2

C

[jake]

Great answer, keep it coming

[epscape]

Thanks for the timely response, appreciate it