Pure economic profit must be at a maximum for a monopolist who ...

[asd123]

Pure economic profit must be at a maximum for a monopolist who has a level of output in which total revenue is at a maximum.
 a. True
  b. False
  Indicate whether the statement is true or false

Question 2

The substitution effect is the concept that changes in consumption of a good result from changes in the relative price of a jointly consumed good.
 a. True
  b. False
  Indicate whether the statement is true or false

[covalentbond]

Answer to Question 1

False

Answer to Question 2

False

[asd123]

YES! Correct, THANKS for helping me on my review

[coreycathey]

Thanks for the timely response, appreciate it