Author Question: In order for a monopolist to earn a pure economic profit in short-run equilibrium, price must exceed ... (Read 111 times)

mikaylakyoung · **on:** Jun 30, 2018

In order for a monopolist to earn a pure economic profit in short-run equilibrium, price must exceed average total cost.
a. True
b. False
Indicate whether the statement is true or false

Question 2

The income effect is the concept that changes in consumption of a good result from changes in government spending.
a. True
b. False
Indicate whether the statement is true or false