Multiple Choice
A firm which is a monopolist in an output market and a competitor in an input market is:
A) inefficient because MFC > w.
B) inefficient because VMP > MRP and MFC > w.
C) inefficient because VMP > MRP.
D) efficient.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q24: If a resource is exhaustible, its supply
Q25: In perfectly competitive input markets<br>A)all units of
Q26: The demand for labor will increase in
Q27: An increase in the interest rate will:<br>A)shift
Q28: Explain how a firm determines the optimal
Q30: The most general profit maximization rule is
Q31: If leisure is a normal good:<br>A)then the
Q32: The demand for labour:<br>A)is not the result
Q33: Which of the following is not a
Q34: Show what happens to the wage paid