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Author Question: If the total revenue curve lies completely below the total cost curve, economic profit is zero. a. ... (Read 58 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
Great answer, keep it coming :)

laurnthompson

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  • Posts: 334
Reply 3 on: Yesterday
Thanks for the timely response, appreciate it

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