Author Question: The act of buying a product at a low price in one market and reselling the product at a higher price ... (Read 77 times)

mydiamond

  • Hero Member
  • *****
  • Posts: 804
The act of buying a product at a low price in one market and reselling the product at a higher price in another market is called arbitrage.
 
  Indicate whether the statement is true or false

Question 2

Refer to Figure 15-5. If the monopolist charges price P for output Q, in order to maximize profit or minimize loss in the short run, it should
 
  A) continue to produce because price is greater than average variable cost.
  B) shut down because price is greater than marginal cost.
  C) continue to produce because a monopolist always earns a profit.
  D) shut down because price is less than average total cost.


Pswine

  • Sr. Member
  • ****
  • Posts: 328
Answer to Question 1

TRUE

Answer to Question 2

A



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
 

Did you know?

The horizontal fraction bar was introduced by the Arabs.

Did you know?

The lipid bilayer is made of phospholipids. They are arranged in a double layer because one of their ends is attracted to water while the other is repelled by water.

Did you know?

Drugs are in development that may cure asthma and hay fever once and for all. They target leukotrienes, which are known to cause tightening of the air passages in the lungs and increase mucus productions in nasal passages.

Did you know?

If you could remove all of your skin, it would weigh up to 5 pounds.

Did you know?

To combat osteoporosis, changes in lifestyle and diet are recommended. At-risk patients should include 1,200 to 1,500 mg of calcium daily either via dietary means or with supplements.

For a complete list of videos, visit our video library