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Draw a hypothetical graph to show the equilibrium of a monopolist in the shot-cun wih a economic profit Indicate the equilbrium

Draw a hypothetical graph to show the equilibrium of a monopolist in the shot-cun wih a economic profit. Indicate the equilbrium pont(as E eqaaibriam yua(as ) an price (as P") in the graph. Proparly label both aves and all graphs (3 marks) Instruction: Choose the one alternative that best completes the statement or answers the question. 1·The short-rua production function shows how eetput changes when A. The quantity of labor changes B. The quantity of capital changes C. Technology changes D. The fixed imputs change 2. When a firm is experiencing aconomies of e A. The marginal product curve slopes B. The long nun cos C. Diminishing retums average cost curve slopes downward to labor have been suspended D. The marginal cost curve slopes downwand 3. Total product divided by the total number of workers equals the A. Marginal product of labor. B. Average total cost.

May 02 2020 View more View Less

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