If a Monopolist Is Producing a Rate of Output at Which

question 14

Multiple Choice

If a monopolist is producing a rate of output at which market demand is inelastic,

• A)it may or may not be maximizing its short-run profit
• B)reducing output would reduce both total revenue and total cost
• C)reducing output would increase both total revenue and total cost
• D)reducing output would increase total revenue and reduce total cost
• E)increasing output will increase its short-run economic profit

Recognize the forms of investments in human capital.

Identify the role of households in providing financial resources for capital investment.

Understand how inventory levels affect a firm's tangible capital.

Distinguish between tangible and intangible capital through real-world examples.

---

Definitions:

Applicant

An individual who applies for a job, program, or opportunity.

Age Discrimination

Unfair treatment of employees or job applicants based on their age, rather than their skills or qualifications.

Employment Act

Laws enacted to regulate labor relations, including hiring, working conditions, and employee rights.

Legally Permissible

Activities or actions that are allowed or not prohibited by law.