• 2022-06-06
    When an oligarch chooses the level of production that maximizes its profit, it produces
  • Greater than the level of monopoly production and less than the level of production in a competitive market

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      When a decision maker chooses an alternative under perfect rationality, she ______________ her decision, whereas under bounded rationality she chooses a ______________ decision. A: minimizes; satisficing B: satisfices; maximizing C: maximizes; satisficing D: maximizes; minimizing

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      Monopoly maximizes its profit mainly rely on its ___. A: demand curve B: cost curve C: supply curve D: demand curve and cost curve

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      Suppose an oligarch alone makes the most profit. In calculating profits, if the output effect is greater than the price effect in the marginal unit of production, then the oligarch () A: Have the maximum profit B: should produce more units C: More units should be produced less D: Should be out of the business

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      A perfectly competitive firm maximizes its profit by producing the output at which its marginal cost equals its ____ A: marginal revenue B: average total cost C: average variable cost. D: average fixed cost.

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      A nation maximizes satisfaction by reaching the highest possible indifference curve, and in the absence of trade will produce where its production possibilities schedule is tangent to an indifference curve.( )