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Author Question: If the total revenue curve lies completely below the total cost curve, economic profit is zero. a. ... (Read 117 times)

jake

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on: Jun 30, 2018
If the total revenue curve lies completely below the total cost curve, economic profit is zero.
 a. True
  b. False

Question 2

Suppose Bank-in-the-Box is a monopolist in its market area. If the market wage rate of bank tellers rises, the bank will
 a. maintain price and suffer losses
  b. raise price and earn greater profit
  c. raise price but earn less profit
  d. lower price to boost sales
  e. shut down if AVC is less than price


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krakiolit

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

B

Answer to Question 2

C


jake

  • Member
  • Posts: 538
Reply 2 on: Jun 30, 2018
Thanks for the timely response, appreciate it

mohan

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  • Posts: 362
Reply 3 on: Yesterday
YES! Correct, THANKS for helping me on my review

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