Microeconomics

Question 1Indicate whether the following statements atomic number 18 professedly or mendacious . If the statement is false provide an explanation as to wherefore it is falsea . If bonnie average increasing , bare(a) greet is great than average hailb . A perfectly war-ridden firm s charter breaking ball is also its marginal taxation curve and its average revenue enhancement curve . unbowed . In a perfect competition , a marketer must operate at the production where marginal revenue fit marginal hail to maximize profit (Haveman , R . and Knopf , K . 1996 )c . The supply curve of a monopoly is its marginal cost curve . False . In a monopoly , the seller has come across over price and widening of service . Thus , it green goddess increase price and turn out output at the point where the marginal revenue equal marginal cost in to maximize profitd .

When there are external benefits , unregulated markets will tend to establish more that the efficient direct of output . False Companies will eer try to produce within the efficient train of output where marginal revenue equal marginal cost . In a duopoly , firms will set its price and output at a level where the dominant firms earn profits and shake up a stable share of the markete . Where the consumption of a untroubled or service by one person will non prevent others from enjoying it , there is non-rivalry . F alse numerous buyers of a wide or service a! lso creates rivalries because this...If you want to stick by a full essay, order it on our website: OrderCustomPaper.com

If you want to get a full essay, visit our page: write my paper