In the short run, even if a monopoly's total revenue does not ...

[WhattoUnderstand]

In the short run, even if a monopoly's total revenue does not cover its variable costs, it should continue to produce because ultimately in the long run, the monopoly will start earning profits.
 
  Indicate whether the statement is true or false

Question 2

Economists James Buchanan and Gordon Tullock are well-known for developing
 
  A) the concept of government failure. B) the voting paradox.
  C) the impossibility theorem. D) the public choice model.

[heinisk01]

Answer to Question 1

FALSE

Answer to Question 2

D