Diminishing marginal return implies ?

Related Mcqs:

Maximum profit can be shown on a diagram using ?

A. the MR and MC curves B. the AC and AR curves C. the AC and MC curves D. the MR and AR curves...

When ________ substitutes exist, a monopolist has ________ power to raise price?

A. more; more B. fewer; less C. more; less D. no; infinite...

A major weakness of the kinked demand curve model of oligopoly is that ?

A. it assumes that firms believe that their rivals will not respond to any price change they initiate B. it fails to explain how a firm arrived at its price and output decision initially C. The model cannot be tested empirically. D. Real-world pricing strategies are more simple than those assumed in this model...

The costs that depend on output in the short run are ?

A. total fixed cost only. B. total variable costs only. C. both total variable costs and total costs. D. total costs only...

In contestable markets, large oligopolistic firms, end up behaving like ?

A. perfectly competitive firms B. a cartel C. a monopoly D. monopolistically competitive firms....