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Author Question: Which of the following is inconsistent with a monopoly? a. a single seller b. a downward-sloping ... (Read 88 times)

ashley

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on: Jun 30, 2018
Which of the following is inconsistent with a monopoly?
 a. a single seller
 b. a downward-sloping demand curve
  c. marginal revenue exceeds price
 d. a U-shaped average total cost curve

Question 2

If the world price is above the domestic no-trade equilibrium price, then with international trade, the shortage caused in the domestic market can be met by foreign imports.
 a. True
  b. False
  Indicate whether the statement is true or false


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bobsmith

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Reply #1 on: Jun 30, 2018
Answer to Question 1

c

Answer to Question 2

False


ashley

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Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

ebonylittles

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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