Whenever a Firm Can Charge a Price Greater Than Marginal

question 67

Multiple Choice

Whenever a firm can charge a price greater than marginal cost,

• A)the firm must be a monopolist.
• B)there is some loss of economic efficiency.
• C)consumers have the ability to choose a close substitute.
• D)the firm will earn economic profits.

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Definitions:

Epidermis

The outermost layer of the skin, providing a waterproof barrier and creating our skin tone.

Cornea

Transparent portion of the fibrous tunic that makes up the outer wall of the anterior portion of the eye.

Right Lymphatic Duct

Lymphatic duct that empties into the right subclavian vein; drains the right side of the head and neck, the right-upper thorax, and the right-upper limb.

Lymph

A clear fluid that circulates through the lymphatic system, carrying white blood cells and supporting the body's immune system.