Author Question: Which of the following is inconsistent with a monopoly? a. a single seller b. a downward-sloping ... (Read 98 times)

ashley · **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