For a Monopolist, If Price Is Above Average Total Cost

question 171

Multiple Choice

For a monopolist, if price is above average total cost, the monopolist is

• A)earning an economic profit.
• B)taking an economic loss.
• C)minimizing total fixed costs.
• D)minimizing total variable costs.

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Definitions:

Repress

To repress is to unconsciously block unpleasant feelings, desires, or experiences from one's conscious mind.

Repressed Memories

Recollections that are subconsciously suppressed because they are linked to intense stress or traumatic events.

Proactive Interference

The phenomenon where older memories make it more difficult to remember new information.

Dissociation

A mental process of disconnecting from one’s thoughts, feelings, memories, or sense of identity.