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Author Question: The federal minimum wage automatically increases every year for inflation. Indicate whether the ... (Read 105 times)

wenmo

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on: Jul 1, 2018
The federal minimum wage automatically increases every year for inflation.
 
  Indicate whether the statement is true or false

Question 2

Which of the following is true when the government imposes a price ceiling on a monopolist?
 
  A) Marginal revenue becomes horizontal.
  B) Marginal revenue is linear.
  C) Marginal revenue is kinkedhorizontal and then downward sloping.
  D) Marginal revenue is kinkeddownward sloping and then horizontal.


trog

  • Sr. Member
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Reply #1 on: Jul 1, 2018
Answer to Question 1

F

Answer to Question 2

C


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